Acquisition Overview

On October 5, 2026, ASK Investment Managers (ASK IM) announced that it has entered into definitive agreements to acquire SageOne Investment Managers (SageOne), an established asset manager operating across portfolio management services (PMS) and Category III alternative investment funds (AIF). The combined platform is backed by Blackstone, which will remain the majority shareholder.

Leadership and Roles

SageOne founder and Chief Investment Officer Samit Vartak will reinvest into ASK and assume the role of Chief Investment Officer (Equities) for the merged asset‑management business. Vartak brings 25 years of investment experience and will continue to lead the SageOne team’s research‑driven, high‑conviction approach.

Performance Track Record

The SageOne Core Portfolio (SCP) has delivered an annualised return of 25.3 % from 1 April 2012 to 31 August 2026, compared with 13.8 % for the BSE 500 total return index over the same period. Over the most recent three‑year window, SCP returned 19.4 % annually versus 12.1 % for the BSE 500 TRI.

Assets Under Management

ASK manages assets exceeding INR 770 billion as of 31 March 2026. SageOne manages nearly INR 90 billion of equity assets across its PMS and AIF structures as of 31 August 2026. Together, the platform will oversee more than INR 850 billion in assets, leveraging ASK’s pan‑India distribution network and SageOne’s research‑centric investment process.

Strategic Rationale

The transaction combines ASK’s institutional scale and broad client reach with SageOne’s disciplined investment methodology, creating a platform capable of innovating new investment products and achieving greater scalability. The partnership also provides SageOne access to ASK’s global distribution footprint and the broader Blackstone ecosystem.

Quotes

  • Sameer Koticha, Founder and Chairman, ASK Group, said the acquisition is a “strong strategic fit” and highlighted Vartak’s expertise as a boost to the platform’s equity leadership.
  • Samit Vartak, Founder and CIO, SageOne, described the deal as the “right next step,” emphasizing that ASK will provide scale without altering SageOne’s investment philosophy.
  • Ganesh Mani, Senior Managing Director, Blackstone, expressed confidence in the long‑term compounding value of Indian asset‑management businesses and affirmed that SageOne strengthens ASK’s equities franchise.

Transaction Details

The acquisition is subject to customary regulatory and investor approvals and the completion of applicable regulatory processes. The Rainmaker Group acted as the exclusive financial advisor to the transaction.

About the Entities

ASK Group is a leading provider of asset and wealth management services for high‑net‑worth and ultra‑high‑net‑worth clients, offering portfolio management, alternative investment funds, real‑estate private equity, hedge solutions, private credit, and international investments across more than 20 offices in India, Dubai, and Singapore. Blackstone Inc, the majority owner of ASK, manages over $1.3 trillion in assets globally.

SageOne Investment Managers, founded in 2012, is a SEBI and IFSCA‑registered firm with offices in Pune, Mumbai, and Gift City. It focuses on mid‑ and small‑cap equity investments through PMS and Category III AIF structures, serving HNI and UHNI investors.

Disclaimer

The press release is for informational purposes only and does not constitute an offer or solicitation to invest. Past performance is not indicative of future results, and investments in alternative investment funds involve risks, including loss of capital.