White Oak Capital Group, global investment management and advisory firm, has received SEBI approval to acquire Yes Asset Management from the current sponsor, Yes Bank.

Following this, GPL Finance, a subsidiary of White Oak Capital, will start negotiation on price with Yes Bank. The deal is expected to be completed soon, said White Oak in a statement on Thursday.

Aashish P Somaiyaa, CEO-designate of the AMC, said it will build a seasoned team of industry professionals to provide best-in-class investment products to retail investors beyond the metro cities and B30 locations to achieve higher inclusiveness through omni-channel presence across physical, virtual and digital channels.

Prashant Khemka, Founder, White Oak Capital said the firm’s performance-first culture has earned the confidence of investors globally who have entrusted assets worth over ₹40,000 crore in the past four years.

He added that India is among the most favourable investment destinations globally with a high alpha potential embedded on the canvas of a high growth economy.

White Oak has investment research teams based in India and Singapore and additional sales and distribution offices in Switzerland and UK. White Oak Capital group was founded by Prashant Khemka, formerly CIO of Goldman Sachs Asset Management’s India Equity and Global Emerging Markets Equity businesses.