TIW Private Equity, a sector agnostic buyout private equity fund, has gained a majority stake in the Bangalore – headquartered Credence Family office, which offers services to HNI and UHNI clients.
Credence Family Office have said that they indent to capitalise on the finances provided by the deal to improve and strengthen its operating and advisory platforms, and increase its geographical reach, according to a report by International Advisor. The financial terms of the deal have not been released.
The services provided by the firm include tax solutions, wealth management, real estate services, philanthropy, and lending.
Mitesh Shah, the co-founder and managing partner at Credence Family Office, has said of the deal: “Our vision continues to be able to build a family office practice that eliminates the trust deficit, one that has the trust of a family member and the expertise of an institution, helping families not only preserve and enhance wealth but also be responsible for wealth transfer and management through generations.”
“We are very confident that Credence will continue to expand its reach and build the most trusted family office practice in India.” said Mohit Ralhan, the managing partner and chief investment officer at TIW Private Equity.
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