Private lender YES Bank has signed an agreement with White Oak for selling its stake in YES Asset Management Company (AMC) and YES Trustee to GPL Finance and Investments (GPLFI) owned by White Oak Investment Management, as mentioned in an agreement announced on Friday.
White Oak Capital Management is a Mumbai-based boutique investment management and investment advisory firm led by Prashant Khemka, who was chief investment officer and lead portfolio manager for Goldman Sachs India Equity at Goldman Sachs Asset Management.
YES AMC owned Rs 56.97 crore of average assets in June quarter, according Association of Mutual Funds in India. AMC received approval for launch its operations in 2018 and floated three debt-oriented MF schemes since then.
These comprised of a liquid fund, an overnight fund and an ultra short-term fund.