Indian-based TIW Private Equity has acquired a majority stake in Bangalore-headquartered Credence Family Office.
The financial terms of the deal were not disclosed.
Credence plans to use the financial proceeds to strengthen its advisory platform, increase geographical reach and improve on its operating platform.
The family office offers a range of services; including wealth management, tax solutions, estate planning, philanthropy, lending and real estate services to high net worth and ultra-high net worth individuals.
“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,” said Mitesh Shah, co-founder and managing partner at Credence Family Office.
“Over the last decade, we have made significant progress towards this vision, and we look forward to partnering with the TIW fund team in our journey ahead.”
Mohit Ralhan, managing partner and chief investment officer at TIW Private Equity, said: “We are very confident that Credence will continue to expand its reach and build the most trusted family office practice in India.”
TIW Private Equity invests in small- and medium-sized enterprises.