Mumbai, Nov 22 (IANS): Mumbai-based Pareto Capital, which is in the business of investment nanking, investor relations advisory and asset management, has ventured into PMS business by acquiring equity stake in Crescita Investment Management Private Limited.

Crescita Investment Management, founded in 2016 by an industry veteran Vijay Sarda, is a PMS firm that offers portfolio management service, investment advisory services to High Net Worth individuals (HNIs), ultra HNIs, family offices and institutions.

Pareto and Crescita aim to grow asset management business to Rs 500 crore in AUM in the next two years.

Vikash Agarwal Co-founder & Managing Director, Pareto Capital group, said, "We are pleased to have made this investment. Crescita has an experienced wealth management team. This team brings product innovation, geographical spread, and a large roster of some very prestigious clients. This move will help our asset management business scale up further by accessing the broader repertoire of products and services offered by Crescita. With Vijay's two decades of expertise in investment management, managing various large-cap, mid-cap, value, multi-cap and sector funds, we aim to grow the asset management business to Rs 500 crore in the next two years."

"We are very proud to become part of Pareto Capital group through this transaction. Pareto's comprehensive capabilities will further propel our ambitious agenda and contribute to our efforts in enhancing a robust offering. Going forward, our combined effort will further strengthen our reach and offerings for the HNIs and ultra HNI clients across India," said Vijay Sarda, CEO of Crescita Investment Management Private Limited.