The Xander Group invests $10.5m in Mumbai-based wealth management company Sanctum


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

The company said the investment will be made through Xander’s Singapore-based financial services arm and the new funding round will be used to bolster Sanctum’s operating platform and increase its customer reach. .

Sanctum began operations in April 2016 with the acquisition of the Indian private banking business of Royal Bank of Scotland. It provides wealth management services to high net worth individuals in India and abroad.

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

Sanctum manages approximately Rs 16,000 crore ($2.17 billion) of wealthy client assets and operates in six major cities across India. It has six branches in India, and through its two legal entities and six regulatory licenses, the company provides services such as 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, he has committed over $3 billion in India through private, public, credit and venture capital 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, economy and luxury hotels, warehouses, condominiums and residential townships.

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

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

In August 2021, Xander’s private equity real estate arm acquired one million square feet of warehousing space in the free trade and warehousing zone in Sriperumbudur, Tamil Nadu. He already owned a million square feet in FTWZ.

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

Early last year, he acquired majority stakes in three warehousing companies in Chennai and Mumbai with the help of Swiss asset manager Partners Group.


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