Blackstone-backed ASK Investment Managers has acquired 100% of SageOne Investment Managers, according to legal filings and the law firm that advised the sellers.
SageOne founder and chief investment officer Samit Vartak has sold his entire stake in the firm. As part of the transaction, he will reinvest an undisclosed amount into ASK and take charge as Chief Investment Officer (Equities) of the combined platform.
The deal, estimated by industry sources at Rs 1,500 to 2,000 crore, brings together more than Rs 85,000 crore in assets under management. ASK managed over Rs 77,000 crore as of March 2026, while SageOne managed nearly Rs 9,000 crore.
Blackstone will continue as the majority shareholder of the combined entity.
The acquisition agreement was executed on September 30, 2026, and remains subject to regulatory approvals. Shardul Amarchand Mangaldas & Co. advised SageOne and Vartak on the sale of 100% of the partnership interest.