In a significant move that marks its formal entry into India’s asset management industry, Sanlam, South Africa’s largest asset manager with over $80 billion in assets under management (AUM), has acquired a 23% direct stake in Shriram Asset Management Company Limited (Shriram AMC). The strategic investment strengthens the long-standing partnership between the Shriram Group and Sanlam, which spans over two decades across various financial services.
The equity stake was secured through a preferential allotment of 38.89 lakh equity shares to Sanlam Emerging Markets (Mauritius) Limited (SEMM), raising ₹105 crore in growth capital. With this transaction and associated open offers, SEMM now joins Shriram Credit Company Limited (SCCL) as a co-promoter of Shriram AMC, increasing total promoter shareholding from 62.55% to 71.17%.
The development comes at a pivotal time for India’s mutual fund industry, as evolving investor preferences drive demand for sophisticated, data-driven investment solutions. Sanlam’s entry is expected to significantly bolster Shriram AMC’s ‘quantamental’ investing approach—an investment philosophy that integrates quantitative analysis with fundamental research.
Boosting Strategy, Innovation and Talent
Kartik Jain, Managing Director & CEO of Shriram AMC said, “This partnership is more than capital—it’s a strong endorsement of our differentiated investment approach. “With Sanlam’s support, we aim to scale our 3Ps strategy: Performance, Products, and Placement. Their deep expertise in managing emerging market assets will sharpen our investment processes and allow us to deliver impactful and accessible solutions across investor segments.”
Sanlam will now have representation on Shriram AMC’s Board, marking a more active role in the company’s strategic direction. The move is also expected to accelerate product innovation, attract top-tier talent, and enhance distribution reach.
A Deepening Alliance
Carl Roothman, CEO of Sanlam Investments, called India a “strategic growth market”, adding: “We are proud to partner with Shriram AMC as we bring our investment capabilities to India. This is an extension of our trusted relationship with the Shriram Group, and a shared mission to offer world-class financial solutions to a broader population.”
This partnership follows Shriram AMC’s earlier strategic milestone in 2022, when Mission1 Investments LLC acquired a 23% stake in the company. Gaurav Patankar, Managing Partner & CIO of Mission1, welcomed Sanlam’s entry, saying, “Having two deeply aligned and capable promoters like Shriram and Sanlam paves the way for long-term value creation. The opportunity in India’s asset management space is even more exciting now than it was when we first invested.”
Shriram AMC, the first listed AMC in India, has been building a diversified investment platform and aims to emerge as a pan-India player focused on both retail and institutional segments. The infusion of capital and global best practices is expected to strengthen its competitiveness in a market that is witnessing rapid evolution driven by rising financial literacy, digital adoption, and income growth.
Driving Future Growth in a Transforming Market
This partnership is not just about business—it’s about creating a forward-looking financial institution that combines trust, innovation, and impact. For Shriram AMC, it’s a reaffirmation of its mission to empower Indian investors with high-quality, research-backed investment options for long-term wealth creation.
