Brothers Amit Patni and Arihant Patni have invested an undisclosed amount in Mumbai-based Waterfield Advisors, an India-focused boutique advisory firm, for a significant minority stake. The sons of Gajendra Patni, after their exit from Patni Computers, which they sold to iGate in 2011, have been anchoring and cofounding funds.
The strategic partnership between Amit and Arihant Patni and Waterfield Advisors aims to jointly create a platform to offer comprehensive family office solutions to clients to create long-term partnerships. The funding will be deployed to strengthen the advisory firm's family office services portfolio as well as expand its offerings in the domestic market.
"We are excited to announce our investment and partnership with Waterfield Advisors. Having experienced first-hand the challenges faced by a single family office since setting up our own family office in 2002, we felt that there existed a strong latent need for family office services," said Amit Patni. "Our investment in Waterfield Advisors aims to jointly address this need and build this area of expertise in India. We look forward to a long term partnership with Waterfield Advisors as it charts its next phase of growth."
Arihant Patni said, "We are enthused to announce our investment in Waterfield Advisors. Backed by a strategic vision to offer a holistic approach towards asset management and capital preservation for family offices, we are confident that the new platform will be successful in institutionalising and expanding family offices in India."