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South Africa-based Sanlam has invested Rs 1.05 billion for a twenty-three per cent stake in the asset management arm of the Shriram Group. This marks Sanlam’s formal entry into the Indian market. Sanlam, which manages over USD 80 billion in assets, has maintained a partnership with the Chennai-based financial group for more than two decades. With this latest investment, it becomes a co-promoter in Shriram Asset Management Company alongside ShriramCredit Company. As a result, the overall promoter shareholding in the listed entity will rise from 62.55 per cent to 71.17 per cent. Sanlam Emerging Markets (Mauritius) received 3.889 million shares through a preferential allotment. The capital will support product expansion and talent acquisition. Kartik Jain, managing director and chief executive of Shriram AMC, said the fund infusion endorses the firm's “quantamentalâ€� approach, which blends data science with fundamental analysis. Sanlam’s representatives will also join the board of Shriram AMC. Carl Roothman, chief executive of Sanlam Investments, described India as a key growth market and highlighted the long-standing relationship and shared vision between the two firms. Shriram AMC had earlier raised funds in 2022 from Mission1 Investments LLC for a similar stake.