Sep 27, 2021
INR 78 crore investment will help strengthen Sanctum’s operating platform and increase client coverage.
Singapore / Mumbai, India – September 27, 2021.
Global Investment firm The Xander Group, Inc., has invested ₹78 crores in Sanctum Wealth, a Mumbai-headquartered wealth management company which oversees more than ₹16,000 crores in high-net-worth client assets and operates across six major cities in India. The investment will be made through Xander’s Singapore-based financial services arm and the funds will be used to strengthen Sanctum’s operating platform and increase its client coverage.
Sanctum Wealth commenced business in April 2016 through the acquisition of the Royal Bank of Scotland’s Indian private banking business. It provides a range of wealth management services to high net-worth individuals in India and abroad. These include the full spectrum of investment services, estate planning solutions, real estate services and private market solutions.
Shiv Gupta, CEO at Sanctum, said, “Over the past five years we have created a world-class platform with a strong customer-centric culture. Having invested heavily in building a strong foundation, we are seeing robust growth in our customer franchise, which we expect to continue. Our partnership with The Xander Group, with whom we share our core values and see many synergies, should allow us to accelerate our growth and further strengthen our platform. The Indian wealth management sector represents a huge structural opportunity, and we look forward to working with Xander and our existing investors, which includes Multiples Alternative Asset management, to take our franchise to the next level in scope and scale.”
Sid Yog, Founder of The Xander Group, Inc., said, “We are big believers in the structural opportunities being created in the Indian financial services space by a young, upwardly mobile, and entrepreneurial population, against the backdrop of deepening reforms and positive regulatory change. This will result in exponential growth in wealth advisory and management over the next decade. We admire what Shiv and his team have built at Sanctum, demonstrating keen entrepreneurial hunger and alignment of interests with shareholders, attributes we believe are critical to succeed in this sector but are not easy to find together. We are thus very pleased to make this investment and look forward to helping Shiv and the Sanctum team achieve their next phase growth goals rapidly.”
Zanskar Advisors were the investment bankers for the transaction.
About Sanctum Wealth Private Limited
Sanctum Wealth is a full-stack wealth management platform that manages more than ₹16,000 crores for more than 1,100 high-net-worth families in India and abroad. Headquartered in Mumbai, it has six branches in India. Through its two legal entities and six regulatory licenses, it provides its clients a range of services that include investments, estate planning, real estate, and private transactions. It was created in April 2016 through the acquisition of the Royal Bank of Scotland’s India Private Banking business.
For more information, please visit www.sanctumwealth.com
About The Xander Group, Inc.
The Xander Group, Inc. is a global investment firm focused on emerging markets. The firm combines global experience and relationships, international standards of corporate governance, and a localized operational approach, to invest in, build, scale, and operate businesses that generate superior long-term returns. Since 2005, the firm has committed over USD 3 billion of equity to India across private, public, credit and venture investments and platforms.
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