Reliance Capital Ltd, part of the Anil Dhirubhai Ambani Group with interests in mutual funds, insurance, private equity, stock broking and other financial services, has announced that it will acquire a majority stake in Mumbai-based Quant Capital Group for an undisclosed sum.
The 18-month-old Quant Capital, which has built an employee base of 100 professionals, focuses on institutional cash equities and equity derivatives business. Quant also combines quantitative and behavioural research to forecast trends in global commodities, equities and currencies, according to a Reliance Capital filing with the BSE.
Following the acquisition, the existing management team at Quant will continue to run the operations.
Reliance Equity International, a wholly owned subsidiary of Reliance Capital, and Quant Capital will integrate operations to achieve synergies and cost optimization.