KFin Technologies acquires Ascent Fund Services for global expansion

KFin Technologies has announced the acquisition of Ascent Fund Services, a Singapore-based fund administrator, for USD 34.7 million, securing a 51% controlling stake with a definitive path to 100% ownership over five years. The deal, expected to close between July and August 2025, will be funded through internal accruals, with approximately USD 30 million allocated for secondary infusion and USD 5 million for primary infusion. Ascent Fund Services, currently supporting over 576 funds across 18 countries with assets under administration of USD 24 billion, has demonstrated a strong CAGR of over 35%. The acquisition is expected to diversify KFin's revenue streams and enhance its global footprint.