Nikhil Kamath and Richard Pattle, Co-founders of True Beacon, the Indian asset management company, today announced the launch of the first operational Alternative Investment Fund (AIF) in Gujarat International Finance Tec-City (GIFT City). True Beacon Global, a Fund for international strategic investors, will provide access to Indian capital markets with high levels of transparency, coupled with zero management fees and a globally competitive tax regime.
True Beacon serves over 250 ultra high net worth and high net worth individuals in India, and is headquartered in Bangalore. The company’s flagship Fund, True Beacon One, delivered a 32% outperformance of the Indian equity index, NIFTY50, in 2020. True Beacon Global will mirror the flagship Fund’s strategy for global institutional and individual investors.
True Beacon Global is based in GIFT City, a special economic zone in Ahmedabad, offering zero taxation on derivative gains, with a single unified regulator equating it to global financial hubs such as Dubai and Singapore.
Nikhil Kamath, Co-Founder and CIO, said, “The establishment of True Beacon Global in GIFT City is an exciting new chapter for us, building on our investment track record.”
Richard Pattle, Co-founder and CEO, said, “India is one of the most compelling investment destinations for ultra high net worth individuals and institutional investors globally. The company looks forward to playing its part in attracting foreign investment into the country.”
About True Beacon
True Beacon operates hybrid funds for strategic investors investing into the Indian capital markets. The flagship fund is open-ended, with zero management fees and a 10% annual performance reward on gains achieved by the company.
True Beacon is creating a community of ultra high net worth and high net worth individuals in India and overseas, driving strategic value through global deal flow, co-investment opportunities, philanthropic initiatives, and next generation educational programmes.
About Nikhil Kamath
Nikhil dropped out of school at 14 to play chess for India and started equity trading 3 years later. In 2010, he co-founded Zerodha, which is now India’s largest retail brokerage accounting for 15% of the daily equity volume in India. The company has a valuation of over 2 billion USD and is wholly owned by Nikhil and his brother, Nithin. The brothers recently pledged 100 million USD to climate change. Nikhil is the youngest member of Forbes India’s Rich List, 2020.
About Richard Pattle LVO
Richard has been travelling to and working in India for the past 30 years. He spent 18 years as a combat helicopter pilot in the British military, including a year on exchange with the Indian Armed Forces. He worked for the British Royal Family from 2004 to 2014 as Equerry then Master of the Household to Their Royal Highnesses The Prince of Wales and The Duchess of Cornwall. Before co-founding True Beacon, Richard was Vice Chairman of Standard Chartered Private Bank for 5 years, covering 250 ultra high net worth families globally.