Karan Bhagat

360 ONE WAM 

Reshaping wealth and asset management for next-gen investors 

Mr. Karan Bhagat, an alumnus of IIM-Bangalore and a first-generation entrepreneur, began his entrepreneurial journey in 2008 with a conviction that India’s ultra-high net worth individuals and families would increasingly demand worldclass wealth and asset management services.

He left a leading financial firm to cofound IIFL Wealth Management, which was later demerged and rebranded as 360 ONE, listing in 2019. Then, in FY25, 360 ONE Alternates Asset Management was demerged to build a world-class investment platform for sophisticated investors.

Not afraid to chart his own path and challenge industry norms, Mr. Bhagat had early on adopted a recurring, fee-based revenue model to align incentives with long-term client outcomes. This strategic shift resulted in strong client loyalty.

Mr. Bhagat expanded and offered new capabilities in emerging segments of asset and wealth management through a series of acquisitions in global research, wealth-tech, broking and capital markets offerings. He has also cemented his position as a sector leader by executing many milestone transactions, including one of India’s largest private credit deals in insurance.

The home-grown company ranks among the top 10 wealth managers in India by market share, a space otherwise dominated by institutions. Maintaining operational efficiency while scaling up operations (INR6.7 lakh crore AUM), the company’s revenue increased to INR 3,684 crore.

With financial literacy and inclusion also an integral part of his roadmap, Mr. Bhagat supports skill building, blended finance and outcome-based funding through many initiatives.

As India’s HNI population grows, Mr. Bhagat is set to carve a new path in delivering innovative investment products and expanding beyond Tier I cities.