General Atlantic has rechristened Karvy Fintech to KFinTech in order to disassociate itself from Karvy group, said a senior official of the company.
Earlier in 2018, the New York based PE firm General Atlantic had acquired 83.25% stake in Karvy Fintech.
C Parthasarthy, Chairman and MD, Karvy Group has resigned from the board of Karvy Fintech. The company has appointed MV Nair as the non-executive Chairman of the board of KfinTech. Nair is also the current chairman of TransUnion CIBIL and advisor to a few PE firms.
KFinTech is a provider of across-the-board transfer agency services to AMCs, distributors and investors. The company’s website shows that nearly 40% of India’s AMCs use its services.
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