US based private equity firm TA Associated has acquired minority stake in Ahmedabad based mutual fund distribution company Prudent Corporate Advisory Services.
Prudent Corporate Advisory Services is into distribution of financial products such as mutual funds, bonds and insurance policies with its network of 10,000 IFAs. Founded in 2001, the company manages assets of close to Rs.18,000 crore in mutual funds last fiscal.
Shirish Patel, CEO, Prudent Corporate Advisory Services told Cafemutual that TA associates will help Prudent Advisory grow business. “Since TA Associates has invested in many AMCs and financial distribution space across the world, we will benefit from their expertise and experience.”
TA's major portfolios in India include digital payment channel BillDesk and womenwear brand W.