Financial services firm Avendus Capital has acquired the institutional equities business of Chennai-based brokerage Spark Capital as part of expanding its capital markets offerings to institutional equities, for an undisclosed sum. Spark’s institutional equities franchise is run by an 80-member team, serving over 400 institutional clients for the past 15 years. The team led by Ganeshram Jayaraman will continue to run the business under the Avendus management, said the city-based brokerage in a statement on Monday, adding that it will also invest more into this business.
Avendus claims to be among the largest investment banks in the country and a market leader in the private capital markets in investment banking and wealth management businesses.
Gaurav Deepak, co-founder and chief executive of Avendus Capital, said, “With this partnership, we hope to significantly enhance our investment banking and wealth management offerings.”
The Avendus Group, set up in 199, is into investment banking, wealth management, credit solutions and asset management, and is present in eight cities across the country apart from New York, London and Singapore.
