The Xander Group invests $10.5 mn in Mumbai-based wealth management firm Sanctum

By Anuj Suvarna

  • 27 Sep 2021
Credit: VCCircle

Global investment firm The Xander Group said it has invested Rs 78 crore (around $10.5 million) in Mumbai-headquartered wealth management company Sanctum Wealth.    

The firm said the investment will be made through Xander’s Singapore-based financial services arm and the new round of capital will be used to strengthen Sanctum’s operating platform and increase its client coverage.    

Sanctum commenced business in April 2016 through the acquisition of the Royal Bank of Scotland’s Indian private banking business. It provides wealth management services to high-net-worth individuals in India and abroad.    

“We are seeing robust growth in our customer franchise, which we expect to continue. Our partnership with The Xander Group, with whom we share our core values and see many synergies, should allow us to accelerate our growth and further strengthen our platform,” said Shiv Gupta, CEO of Sanctum.    

Sanctum manages around Rs 16,000 crore ($2.17 billion) in high-net-worth client assets and operates across six major cities in India. It has six branches in India, and through its two legal entities and six regulatory licences, the firm provides services like investments, estate planning, and real estate and private transactions.  

Zanskar Advisors was the investment banker for the transaction.    

Xander focuses on emerging markets. Since 2005, it has committed over $3 billion to India across private, public, credit, and venture investments.    

Xander has been actively investing in India for 15 years. It has a portfolio of over 90 million square feet across all real estate asset classes including office, retail, industrial, budget, and luxury hotels, warehousing, and residential condominiums and townships.    

In May, Xander acquired a warehousing asset in the Howrah district of West Bengal from Jalan Builders Group. 

Back in 2019, the investment firm had set up an industrial real estate platform for India with a corpus of $250 million to acquire logistics assets.    

In August 2021, the private equity real estate arm of Xander acquired one million square feet of warehousing space in the Free Trade and Warehousing Zone at Sriperumbudur, Tamil Nadu. It already owned one million square feet in FTWZ.   

Xander also leased around 1.1 million square feet of warehousing space to e-commerce firms Amazon India and Walmart-owned Flipkart in Bhiwandi, Maharashtra this year.   

Early last year, it acquired majority stakes in three warehousing firms across Chennai and Mumbai with the help of a Swiss asset manager Partners Group.