KKR-backed Avendus completed the acquisition of Ocean Dial Asset Management.

KKR-backed Avendus, a financial services firm, completed the acquisition of Ocean Dial Asset Management, a UK-based asset management company. Financial terms were not disclosed. “Avendus has been consistently making efforts to bolster its asset management businesses and this acquisition is one such step in the journey of growth. The acquisition will help us scale up our public equities presence. As the public markets are deepening, we are observing a switch from mutual funds to alternate investment funds. The acquisition is synergistic, as we will work to make Ocean Dial a bigger play by bringing in investors from other geographies into the fold. There exists an opportunity to create a center of excellence in public equities investing and Avendus attempts to create leadership in this space,” Ranu Vohra, Avendus Capital Co-founder, Managing Director and Chief Executive Officer.