ASK Asset & Wealth Management, backed by Blackstone, is seeing high demand from its ultra-high networth clients for the opportunity to invest in Blackstone’s global private equity fund. Rajesh Saluja, Co-founder, CEO and MD of ASK Private Wealth, noted that they have more demand than they can accommodate for this offering.
The firm, with assets exceeding Rs 79,000 crore, is experiencing significant growth. Saluja mentioned plans to expand to more cities and increase the number of relationship managers. They are investing heavily in technology, with approximately $25 million being allocated for various investments.
In terms of market volatility, ASK is guiding its clients through the ups and downs, particularly those who are newer to investing. Saluja emphasized the importance of staying invested and diversifying assets. Additionally, ASK’s collaboration with Blackstone allows clients to access their global private equity fund, which has garnered strong interest since its introduction three months ago.
The firm’s expansion plans include adding branches in several new cities and increasing the number of relationship managers. The ultimate goal is to have 200 relationship managers by March 26, split between high networth and ultra-high networth clients. Overall, ASK Asset & Wealth Management is focused on growth and enhancing its offerings for its clientele.
