ASK Investment Managers to Acquire SageOne Investment Managers; Samit Vartak, CFA to Lead Equity Business

ASK Investment Managers (ASK IM) is set to acquire SageOne Investment Managers, the portfolio management and alternative investment firm founded by investor Samit Vartak.

The two companies announced the deal on September 30 after signing definitive agreements. The transaction is estimated to be worth around Rs 2,000 crore, or nearly $200 million, according to an industry executive. However, the companies have not officially disclosed the financial terms.

Samit Vartak to Join ASK

As part of the deal, Samit Vartak will reinvest in ASK and take charge as Chief Investment Officer (Equities) for the combined platform.

Vartak will continue to lead the investment function built around SageOne’s research-focused and high-conviction approach.

Blackstone, which holds a majority stake in ASK, will continue to remain the controlling shareholder of the combined business.

Combined Assets to Cross Rs 85,000 Crore

The deal will bring together ASK’s large institutional platform and distribution network with SageOne’s investment team and track record.

After the transaction, the combined platform will have more than Rs 85,000 crore in assets under management.

For SageOne, the partnership will provide access to ASK’s wider distribution network and the larger Blackstone ecosystem, while ASK will strengthen its equity investment capabilities with SageOne’s investment team and approach.

The Rainmaker Group acted as the exclusive financial advisor for the transaction.

SageOne Founded in 2012

Samit Vartak founded SageOne in 2012 and has around 25 years of experience in investing across different market cycles.

SageOne manages money through portfolio management services (PMS) and alternative investment funds (AIFs).

According to the company, SageOne’s Core Portfolio delivered an annualised return of 25.3% between April 1, 2012 and August 31, 2026, compared with 13.8% for the BSE 500 TRI.

Over the last three years, the portfolio delivered annualised returns of 19.4%, while the BSE 500 TRI returned 12.1%, according to SageOne.

Vartak said the partnership is the next step for SageOne and will give the firm greater scale and institutional support while keeping its investment philosophy and discipline intact.

ASK Strengthens Its Equity Business

ASK Investment Managers is part of ASK Group, which provides asset and wealth management services to high-net-worth and ultra-high-net-worth clients.

Its business includes portfolio management, alternative investments, private equity and wealth management.

ASK Group founder and chairman Sameer Koticha said SageOne has built a strong investment business around detailed research, conviction and disciplined execution, making the combination a good fit for ASK.

The acquisition is still subject to regulatory and investor approvals, along with the completion of other required regulatory processes.