Top News

InCred Capital, the wealth management arm of IPO-bound InCred Holdings, has acquired Singapore-based fund management company S Cube Capital (SAIML Pte Ltd).

In a statement, the company said it plans to integrate S Cube Capital into its Singaporean entity, InCred Global Wealth Pte Ltd, subject to regulatory approvals.

The move adds regulated fund vehicles to its Singapore platform. InCred Capital had earlier acquired Dubai-based financial advisory firm Arrow Capital in February. With these acquisitions, the company aims to strengthen its offshore capabilities across the Singapore-Gulf Cooperation Council (GCC)-India investment corridor.

As part of the deal, InCred Global Wealth will onboard S Cube Capital’s leaders Balaji Swaminathan and Hemant Mishr as joint vice chairmen of the global asset management business.

InCred Capital declined to disclose the deal size and valuation.

S Cube Capital is an asset management firm, regulated by the Monetary Authority of Singapore (MAS), founded by a team of senior investment bankers with over 70 years of combined industry experience.

InCred Global Wealth, which is also regulated by MAS, provides services including credit, investments and legacy planning targeting ultra-high-net-worth individuals, family offices, and institutional investors.

“S Cube Capital’s combination of regulated fund infrastructure, fixed income and alternative expertise, and an experienced investment team fits naturally within our platform. The acquisition adds scale and a strong suite of fund vehicles and solutions to our Singapore offering, while strengthening the foundation of our global asset management business,” said Srikantan Selvamani, CEO of InCred Global Wealth.

InCred Capital, which operates in India, Singapore, Dubai, and London, currently manages over ₹1 Lakh Cr (approximately $10.5 Bn) in wealth assets under management (AUM). It caters to institutional investors, corporates and wealthy individuals with services such as wealth management, asset management and capital market advisory.

InCred Capital is one of the three verticals of InCred Holdings, founded in 2017 by Bhupinder Singh. The other verticals include its NBFC arm InCred Financial Services and retail investment platform InCred Money.

InCred Holdings filed draft papers for its IPO with SEBI through the confidential route in November, and filed its updated DRHP for the IPO last week. The proposed offer comprises a fresh issue of ₹1,250 Cr and an offer for sale (OFS) of up to 9.9 Cr shares by existing stakeholders.

InCred Group has raised over $450 Mn in funding to date from investors like Varanium Capital Advisors, Sattva Group, and Paragon Partners.

The post InCred Capital Acquires Singapore-Based S Cube Capital appeared first on Inc42 Media.