The Mumbai-headquartered family office, Waterfield Advisors has recently built a consortium of family offices in coalition with Dalmia Group Holdings, according to a media report.
The new business entity will comprise twenty business families, which will shift from informal participation to an assembled national transaction platform.
The move will allow the participating family offices to be a part of large transactions. The consortium will also help each office to hedge its bets against risk, CEO and MD of Waterfield, Soumya Rajan told the daily news, VC Circle.
Waterfield, which was established in 2011, is administered by family-based enterprises, trusts and bequests, and sole-family bureaus in numerous investment as well as non-investment areas. The company says it aids its clientele plan, structure and syndicate family affluence. It says it works along with 50 business families and syndicates $2.5 billion of their assets.
In the previous month, it employed Ex-Citibank banker, Ruchi Sankhe as its MD for origination and client coverage.
Her experience will add tremendous value to the firm at a time when we are significantly enhancing our client base, Rajan told the daily news, VC Circle.
According to the cited media report, In May, Waterfield was in discussions to raise funds for expanding its operations and rendering an exit to its existing investors, Arihant Patni and Amit.