Client Associates, a wealth management firm and the country’s largest multi-office service provider, has forayed into asset management with the first close of its maiden fund —Client Associates Alternate Fund (CAAF), mopping up as much as ₹300 crore.

It is now targeting to achieve overall commitments of up to ₹500 crore by exercising the green shoe option of ₹ 200 crore for this Category-II Alternate Investment Fund (AIF) and concluding the same during the ongoing financial year.

Himanshu Kohli, co-founder, Client Associates, said, “CAAF represents a significant milestone for us as we venture into the realm of asset management. We are thankful to our clients for the faith they have reposed in our abilities which has enabled us to make the first close in record time. We remain committed to continue to deliver superior outcomes for our clients in this new journey.”

Fund’s focus

CAAF will focus on nurturing high-growth companies in India’s consumer and financial services sectors.

Client Associates is currently managing Assets Under Advisory (AUA) of $ 5.5 billion and serving over 1100+ relationships with HNIs and UHNIs families in India.

CAAF’s investment strategy focuses on identifying and supporting pre-Series A, Series A, and pre-Series B and Series B stage companiespredominantly in the consumer and consumer-related sectors, along with financial services. The fund aims to construct a robust portfolio comprising 12-15 carefully selected companies, with planned investments ranging from ₹10 to ₹ 50 crore per company. 

Furthermore, CAAF will selectively explore later-stage opportunities (pre-IPO) where it feels there could be value creation opportunities for its Limited Partners (LPs).