Client Associates seals first close of maiden fund at Rs 300 Cr

Wealth management firm Client Associates has announced the first close of its maiden fund—Client Associates Alternate Fund (CAAF)—at about Rs 300 crore.

The Gurugram-based company aims to secure commitments of up to Rs 500 crore for the Category-II Alternative Investment Fund (AIF) by exercising a Rs 200 crore green shoe option, within this fiscal year.

The fund has received interest and engagement from domestic family offices and ultra-high-net-worth individuals (UHNIs), mainly consisting of the firm’s existing relationships.

“CAAF represents a significant milestone for us as we venture into the realm of asset management,” Himanshu Kohli, Co-founder at Client Associates, said.

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CAAF’s investment strategy targets pre-Series A, Series A, and pre-Series B and Series B stage companies, primarily in consumer and related sectors, including financial services. It will also selectively explore later-stage (pre-IPO) opportunities where it perceives potential for value creation for its Limited Partners.

The fund seeks to build a strong portfolio with 12-15 companies, intending to invest between Rs 10-50 crore per company.

Founded by Himanshu Kohli and Rohit Sarin in 2002, Client Associates offers professional services for private wealth management, overseeing assets under advisement totalling around $5.5 billion for over 1,100 HNIs and UHNIs families throughout India.

With a workforce exceeding 225 professionals, it has a presence in Gurugram, Mumbai, Bengaluru, Kolkata, Patna, Hyderabad, Chennai, Kochi, and Ahmedabad.