Singapore based investment firm the Xander group has invested Rs.78 crore in Sanctum Wealth.
The wealth management company which focusses largely on HNI clients has assets under advisory of Rs.16,000 crore. The company has presence in six cities. It will utilize the funds to strengthen its team and expand its reach across other cities, said the company press release.
Shiv Gupta, CEO, Sanctum Wealth said, “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.”
Sanctum Wealth acquired the private banking business of Royal Bank of Scotland in 2016.
