InCred Capital Acquires Quintessentially India
InCred Capital Financial Services Limited (InCred Capital) has purchased Quintessentially India, intending to grow the luxury lifestyle management brand and establish what it aspires to be India's top luxury lifestyle management platform.
InCred Capital intends to offer Quintessentially's services to customers of its Rs.1 lakh crore wealth management division following the acquisition.
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The firm will additionally focus on talent, enhance global luxury alliances, enter new cities, and widen its range of exclusive experiences.
The merger combines Quintessentially’s worldwide legacy and proficiency in luxury lifestyle management with InCred Capital’s financial assets and connections within India’s high-net-worth (HNI) and ultra-high-net-worth (UHNI) sectors.
Commenting on the acquisition, Bhupinder Singh, Founder, InCred Group, says, “InCred Capital has built deep, trusted relationships with India’s wealthiest families, giving us a unique understanding of their global lifestyles and aspirations”.
“With Quintessentially now part of InCred Capital, we can extend our offering beyond wealth management into extraordinary access and experiences. That gives us a formidable starting point to build Quintessentially into India’s most sought-after luxury lifestyle brand.”
Sir Ben Elliot, Co-Founder, Quintessentially, says, “We built Quintessentially to make the extraordinary possible. India is one of the world’s most exciting luxury markets, and we have only scratched the surface of its potential”.
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“InCred Capital brings the ambition, resources and relationships to help realise that potential. Together, we intend to set a new benchmark for luxury lifestyle management in India.”
The purchase is integral to InCred Capital’s wider strategy to enhance its offerings for wealthy Indian families, extending beyond financial products and wealth management into lifestyle services.
It signifies the subsequent stage of expansion for Quintessentially in the Indian market.
Established in London in 2000, Quintessentially is recognized for its tailored services, unique access, and curated experiences, backed by an international network of over 35 offices. The brand has been active in India since 2010, catering to affluent individuals, notable business families, and corporations.
InCred Capital, a comprehensive platform for institutional, wealth, and asset management, has introduced a new wealth management service targeting ultra-high-net-worth individuals, entrepreneurs, and business families, recruiting three ex-Avendus executives to head the operation. They will assist in developing InCred Black, enhance client relationships, and grow the team as the business expands.
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The platform will provide customized wealth management that includes asset allocation, alternative investments, public and private markets, credit, liquidity solutions, and global investment opportunities. InCred stated it will leverage investment, advisory, and institutional strengths from InCred Capital and the broader organization. The launch occurs amid the rise of India's affluent population and the growing engagement of family offices in private markets and alternative investments.
According to a report by Julius Baer-EY released in August, India is home to over 19,000 ultra-high-net-worth individuals possessing assets exceeding $30 million, with projections indicating that this figure will surpass 25,000 by 2031. The report indicated that India possesses roughly 200 billionaires with an estimated wealth of around $1 trillion. It connected the growth of the nation's UHNI population to IPOs, private equity exits, and liquidity events related to company founders.