KFin Technologies Acquires Majority Stake in Ascent Fund Services for $35 Million

KFin Technologies has secured a 51% controlling stake in Singapore-based Ascent Fund Services for $34.68 million, marking its strategic entry into the global fund administration sector. The acquisition positions KFintech as the sole promoter of Ascent, a rapidly growing fund administrator with $26 billion in assets under administration across 18 geographies.

The deal elevates KFintech’s global fund administration assets to approximately $340 billion as of September 2025, while boosting international revenue contribution from 5% to over 16%. Ascent reported $17.5 million in revenue for the fiscal year ending July 2025, servicing more than 640 alternative investment funds.

KFintech gains 250 domain experts and expands its footprint to 230 offices across 15 countries, supported by a workforce of 6,700 employees. The remaining 49% stake will be acquired in three tranches post-2028, contingent on EBITDA performance. Funding was executed through internal accruals, preserving dividend policy and debt neutrality.

Managing Director Sreekanth Nadella projects international revenues will surpass 25% of total business in the NEAR term. The integrated model combines Ascent’s alternative fund expertise with KFintech’s scalable infrastructure.