Reliance Capital to acquire Quant Capital Group
27 Nov 2009
Reliance Capital Ltd, part of Anil Dhirubhai Ambani Group (ADAG) with interests in mutual funds, insurance, private equity and other financial services, says it will take a majority stake in Mumbai-based Quant Capital Group for an undisclosed sum.
Quant Capital, which started operations 18 months back focuses on institutional cash equities and equity derivatives business. The company with a 100 professionals strong workforce is also engaged in quantitative and behavioural research to forecast trends in global commodities, equities and currencies Reliance Capital says in its filing with the BSE.
Under the new dispensation the current management team will continue to run the operations of the company.
The operations of Quant Capital will be integrated with Reliance Equity International, a wholly owned subsidiary of Reliance Capital.
Quant Capital was incorporated on 4 December 2007 and started operations in May 2008. Over the last 18 months the company has established a significant presence in foreign institutional and domestic institutional segments.
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