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Biography

Karan Bhagat is an Indian entrepreneur and investor, who is the founder, CEO and MD of IIFL Wealth & Asset Management, an Indian wealth management firm. He has been listed in fortuneindia.com's 40 Under 40 list in 2016 and 2017. He was also a finalist for the EY Entrepreneur of the Year Award in 2018.

Early life and education

He hails from a Marwari business family of Kolkata. Bhagat completed his MBA from Indian Institute of Management in 2001.

Career

Before joining IIM, he ran a travel agency in 1996 for a brief while. Later, he joined Kotak Mahindra Bank and served as the head of Kotak Mahindra Bank's wealth management practice for Mumbai.

In April 2008, Bhagat along with his friends Yatin Shah and Amit Shah founded IIFL Wealth Management Ltd. as a unit of IIFL Holdings.

His company IIFL Wealth sold a 21.6% stake in the wealth unit to General Atlantic for ₹ 1.2 billion (USD173 million) in October 2015. As of September 2019, IIFL Wealth & Asset Management has around Rs.1,70,000 crore of assets under advice, distribution and management. He is also an angel investor in half-a-dozen startups.

Public and media appearances

Some of his public appearances are as below:

  • Speaker, Cafe Mutual IFA CIFA 2019
  • Fortune India Next 500 Annual Summit 2018
  • ETMarkets Global Summit 2018
  • IIMBue 2018
  • The Wealth Manager, 2018 on Times Now
  • Tata Literature Live! 2018
  • Asset Reboot, 2017 on ET Now
  • Market Makers Show, 2017 on ET Now
  • Panel discusson, Tribute to Titans (Marwar India Magazine)

Awards and recognition

YearAward(s)Notes
2015Youth Business Tycoons Under 40 by Indiatimes.com
2016Fortune India's 40 Under 40 list
2017Fortune India's 40 Under 40 list
2017The Economic Times's 40 under 40 list 2017
2017Indian Wealth Management - Award for Excellence by Hubbis
2018Best Wealth Management Thought Leader - India Wealth Awards
2017-18Global Indian of the Year - India's Greatest Brands & Leaders
2017-18Global Indian of the Year by URS asiaone.co.in
2018Finalist for the Ernst & Young Entrepreneur of the Year Award
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