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Stephenson Harwood (Singapore) Alliance advises KFin Technologies on Global Fund Services acquisition
Stephenson Harwood (Singapore) Alliance has advised KFin Technologies Limited (KFin), a listed Indian fund services provider, on its $34.7 million acquisition of a 51% stake in Ascent Fund Services, a Singapore-based full-suite global fund administrator.
Founded in 2019, Ascent Fund Services is a full-suite global fund administrator with clients across 18 countries and over $24 billion in assets under administration. It holds regulatory licenses in Singapore, Hong Kong, Dubai, Abu Dhabi, Mauritius, and India’s GIFT City.
KFin is backed by General Atlantic, with over $280 billion assets under administration. This strategic acquisition provides KFin with immediate scale and regulatory access to key international markets, and it marks the largest and first outbound Indian investment in this sector in the last decade.
The team was led by Singapore-based Partner Tom Platts, primarily supported by Associates Emily Lau, Anya Parekh and Beth Crang, with additional assistance from Associates Lena Ow and Ming Hui Gan. Singapore law advice was provided by Virtus Law Partner Sheetal Sandhu and Associates Claris Saw and Richard Chua. Specialist finance advice was provided by Partner Dr. Gregory Xu, Associate Kenneth Kwok and Paralegal Dan Tan. UAE law advice was provided by Partners Sandeep Dharma, Toufic Safie, Philip Clarke and Emily Aryeetey, Associate Emily Daly and Paralegal Jeevni Sharma. PRC law advice was provided by Wei Tu Partner Zoe Zhou, supported by Senior Associate Shirley Lin and Associate Bin Shuang. Hong Kong law advice was provided by Partner Danny Kan and Associate Angela Ng. Specialist regulatory UK advice was provided by Partner William Robertson and Associate Poppie Bouch.
The team advised KFin alongside India-based Devika Nayak of AZB & Partners.
This transaction highlights Stephenson Harwood's expertise in the financial technology sector and reflects the firm's ongoing commitment to supporting innovation and cross-border investments.