KFin Technologies Limited (KFintech), a leading provider of investor and issuer solutions to global asset managers, has completed the acquisition of a 51 per cent controlling stake in Ascent Fund Services (Singapore) Pte Ltd for USD 34.68 million. The move marks a significant milestone in KFintech’s global expansion strategy and strengthens its foothold in the rapidly growing fund administration industry.

Ascent, among the fastest-growing global fund administrators, recorded a 33 per cent three-year CAGR and revenues of USD 17.5 million for the financial year ending July 2025. With operations in 18 geographies and assets under administration exceeding USD 26 billion, Ascent serves more than 640 global alternative investment funds.

Following this acquisition, KFintech’s total global assets under administration rise to nearly USD 340 billion as of September 2025, diversifying its portfolio across public, private, and digital asset classes. The company’s international business share is expected to increase from 5 to over 16 per cent, with projections to surpass 25 per cent in the near term.

The investment, fully funded through internal accruals, reflects KFintech’s disciplined capital allocation strategy. The remaining 49 per cent stake in Ascent will be acquired in three equal tranches between FY2028 and FY2030, subject to performance milestones.

“This acquisition marks a defining step in KFintech’s evolution into a global financial infrastructure company. Ascent’s deep international footprint and expertise complement our strengths in technology and operational excellence. Together, we aim to build a diversified and sustainable business that delivers long-term value for stakeholders,” commented on the development Sreekanth Nadella, Managing Director and CEO of KFin Technologies.

“This partnership unites shared purpose and innovation, creating opportunities and impact across global markets,” added Kaushal Mandalia, Co-founder and Group Executive Chairman of Ascent Fund Services.

Founded in 2019 and headquartered in Singapore, Ascent specialises in fund, corporate, and fintech solutions, including fund setup, accounting, e-KYC, AML/PML, and compliance. The company operates through 23 offices across 13 countries with licences in Singapore, Hong Kong, Abu Dhabi, Dubai, Mauritius, and India’s GIFT City.