Avendus has announced plans to expand its offerings to include institutional equities and capital markets. It has executed an agreement with Spark Capital to acquire its Institutional Equities business, subject to all the necessary regulatory approvals.

However, the company has not disclosed the investment details.

Spark’s nearly 80-member institutional equities team has catered to 400+ institutional clients over the last 15 years. The team, led by Ganeshram Jayaraman, will continue to run the business as before. Avendus will deeply invest behind the business to grow it to become a market leader," the financial services firm said in a release.

Gaurav Deepak, Co-founder and CEO, Avendus Capital, said: “We always want to bring the best to our clients and after careful consideration we have partnered with Spark’s management team... With this partnership, we will be significantly enhancing our service offerings to our investment banking and wealth clients.”

Ganeshram Jayaraman, Managing Director and Head, Institutional Equities, Spark Capital, said, “Avendus, as a knowledge-led financial services firm, is a solid strategic fit to our growth objectives, sectoral strengths and team culture. The institutional equities team is excited by the prospect of working under the Avendus umbrella in its ensuing growth phase and believes that this can catapult us into the next orbit. The entire team remains committed to build this franchise.”

Published on February 1, 2022