AssetCo to acquire India-focused asset manager

acquire, India, asset managerAssetCo, the acquisition vehicle founded and chaired by Martin Gilbert, has agreed to buy Ocean Dial Asset Management (ODAM), which manages the India Capital Growth Fund. Gilbert, the former chairman of Aberdeen Asset Management, became chairman of the Edinburgh-based AssetCo in 2021. The acquisition is still subject to regulatory approval from the UK’s Financial Conduct Authority and India’s Reserve Bank and Securities Exchange Board. Should the approval be granted, ODAM will be integrated into the River & Mercantile brand joining the other active management firms acquired by AssetCo. The investment team based in India that manages the Indian capital Growth Fund will remain unchanged and will continue to be led by Gaurav Narain. “We are excited about the long-term potential that India offers and see opportunities to add value by bringing Ocean Dial together with the other active equity asset management businesses we are combining under the River and Mercantile brand,” said Gilbert. © 2023 funds global asia

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