In a strategic move to bolster its family office business, Equirus Group has announced an investment of Rs 100 crore and the merger of its family office segment with Credence Family Office. This transaction marks a significant milestone, creating the Equirus-Credence Family Office, a combined entity poised to deliver comprehensive wealth management solutions to ultra-high-net-worth individuals and families.
As part of the deal, Credence Family Office will take over Equirus Wealth’s Family Office business and integrate into the Equirus Group. The merger also facilitated the exit of TIW Private Equity, which had been an investor in Credence for six years.
Equirus Group, known for its rapid growth in the financial services sector, specializes in investment banking, institutional securities, wealth management, portfolio management, HNI broking, and insurance solutions. With over 285 transactions across M&A, PE, IPOs, QIPs, Rights Issues, and Structured Finance, the firm has raised USD 12 billion over the past 17 years. Its shareholders include prominent entities like the Jhunjhunwala family, Federal Bank, Amicus PE fund, alongside its management team and employees.
Credence Family Office, with a 14-year legacy, serves over 350 clients, including family houses, first-generation entrepreneurs, sportspersons, celebrities, and business leaders. The firm manages an Assets Under Advisory of Rs 8,000 crore, supported by a team of 55 professionals, offering services ranging from wealth management to succession planning and philanthropy advisory.
Following the merger, Mitesh Shah, Founder and CEO of Credence Family Office, will join Equirus’ leadership team, enhancing the firm’s expertise in the ultra-high-net-worth and family office segments. The combined entity will manage total wealth assets of Rs 18,000 crore, with a workforce of 450 professionals.
Ajay Garg, Founder and Managing Director of Equirus Group, expressed enthusiasm about the merger, stating, “At Equirus, we’ve always believed in a client-first approach, building relationships based on trust and delivering value that lasts generations. Credence Family Office embodies the same philosophy. Together, we’re excited to amplify this approach, ensuring that clients feel supported and empowered at every stage of their journey.”
Mitesh Shah remarked, “This partnership with Equirus Wealth marks an exciting new chapter for Credence Family Office. By combining their scale and vision with our personalized approach, we can offer our clients even greater opportunities and support. For our team and our clients, this is not just an acquisition – it’s the beginning of something bigger and better.”
The merger will enable Credence to leverage Equirus’ extensive capabilities across investment banking, research, debt capital markets, and fund management, creating a robust ecosystem to deliver best-in-class financial solutions.