Campden Wealth, a UK-based family wealth management company, is entering India to tap into growing opportunities as the number of affluent families rises.
The company has tied up with RAAY Global Investments Pvt Ltd, the family office of Amit and Arihant Patni, to float a joint venture named Campden Family Connect. Amit and Arihant Patni are sons of Patni Computer Systems Ltd's co-founder Gajendra Patni.
Amit Patni, chairman at RAAY Investments, said that the number of high-net-worth individuals as well as single and multi-family offices in India has grown rapidly in recent years and that the concept of family offices continues to evolve.
“Campden Family Connect will set up an Indian ultra-high net worth membership community by providing Indian business families global networking opportunities as well as access to international best practices in family business, family office and generational education,” Patni said.
The proposed JV will have Indian members with assets worth $30 million and above.
According to Knight Frank Wealth Report 2016, released earlier this month, the number of individuals with net worth of $30 million and above in India rose more than four-fold over the past decade to 6,020 people.
Established in 1987, Campden Wealth is an independent family-owned business that provides services to the world’s wealthiest families, their family offices and investors with ultra-high net worth. Campden’s network comprises 1,300 family principals across 30 countries.