8, May 2024
Client Associates Announces INR 300 Crore Maiden Fund’s First Close

New Delhi, 8th May 2024: Client Associates, a trusted name in the wealth management industry, has announced the first close of its maiden fund, Client Associates Alternate Fund (CAAF). With 22 years of excellence, Client Associates is currently managing Assets Under Advisory (AUA) of ~$5.5 billion and serving over 1100+ relationships with HNIs and UHNIs families in India. With the first close at about INR 300 crores of the company’s AIF Cat II, Client Associates is now targeting to achieve overall commitments of up to ~INR 500 crores by exercising the green shoe option of INR 200 crores and concluding the same during the ongoing financial year. Through this initiative, Client Associates is aiming to reinforce and further enhance its reputation as an astute investors in the Indian investment landscape.

Himanshu Kohli, Co-founder, of Client Associates, expressed his gratitude and enthusiasm on the first close, stating, “CAAF represents a significant milestone for us as we venture into the realm of asset management. We are thankful to our clients for the faith they have reposed in our abilities which has enabled us to make the first close in record time. We remain committed to continue to deliver superior outcomes for our clients in this new journey.”

Shivam Diwan, Executive Director – CA Alternate Funds, Client Associates, added, “CAAF’s investment strategy is designed to capitalize on the immense potential of India’s startup ecosystem. We are excited about the opportunity to partner fundamentally strong businesses with proven operational excellence. We aim to not only deliver solid returns for our clients but also contribute to the growth and development of the overall ecosystem.”

CAAF’s investment strategy focuses on identifying and supporting pre-Series A, Series A, and pre-Series B and Series B stage companies predominantly in the consumer and consumer-related sectors, along with financial services. The fund aims to construct a robust portfolio comprising 12-15 carefully selected companies, with planned investments ranging from INR 10 to INR 50 crore per company. Furthermore, CAAF will selectively explore later-stage opportunities (pre-IPO) where it feels there could be value-creation opportunities for its Limited Partners (LPs).

The fund has garnered strong interest and participation from domestic Family offices and Ultra High-Net-Worth Individuals (UHNIs), primarily comprising existing relationships of Client Associates. Through CAAF, Client Associates reaffirms its commitment to excellence and innovation in wealth management, further solidifying its position as a leading player in the Indian investment landscape.

Disclaimer: This press release serves for informational purposes only and does not constitute professional advice. Any reliance on the information provided is at the reader’s discretion.

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