Mumbai-based Pareto Capital, a boutique investor relations, advisory, and asset management company has forayed into wealth management business by acquiring a minority equity stake in a Mumbai-based Crescita Investment Management Private Limited.
Founded in 2016 by Vijay Sarda, Crescita offers Portfolio Management Service, Investment Advisory Services to High Net Worth Individuals (HNIs), ultra HNIs, family offices, and institutions.
Pareto Capital is an integrated financial services institution offering Investor Relations (IR) Advisory, Investment Banking and Asset Management. It derives its name from the well-known Pareto Principle named after Italian economist Vilfredo Pareto.
Vijay Sarda, CEO of Crescita Investment Management Private Limited, said,
“We are very proud to become part of Pareto Capital group through this transaction. Pareto’s comprehensive capabilities will further propel our ambitious agenda and contribute to our efforts in enhancing a robust offering. Going forward, our combined effort will further strengthen our reach and offerings for the HNIs and ultra HNI clients across India.”
Pareto and Crescita aim to grow their joint asset management business to Rs 500 crore in AUM in the next two years.
Vikash Agarwal, Co-founder and Managing Director, Pareto Capital group, said, “Crescita has an experienced wealth management team. This team brings product innovation, geographical spread, and a large roster of some very prestigious clients. This move will help our asset management business scale up further by accessing the broader repertoire of products and services offered by Crescita. With Vijay’s two decades of expertise in investment management, managing various large-cap, mid-cap, value, multi-cap and sector funds, we aim to grow the asset management business to Rs 500 crore in the next two years.”
(Edited by Saheli Sen Gupta)