ASK Group enters hedge fund biz, hires former Avendus exec

Mumbai-based ASK Group has entered the hedge fund vertical in line with its plans to expand its footprint in alternative investments and has recruited a senior executive from Avendus Capital to head the new business.

- Priyal Mahtta

The asset and wealth management group, which is backed by private equity giant Blackstone, said Monday that ASK Hedge Solutions will help investors diversify their asset allocation and generate riskadjusted returns.

The group has appointed Vaibhav Sanghavi, former co-CEO of KKR-backed Avendus Capital’s Public Markets Alternate Strategies, to lead the vertical.

Sanghavi comes with an experience of more than two decades and has held key managerial positions at Ambit Pvt. Ltd. and DSP Merill Lynch, apart from Avendus.