About Company
Whiteoak Capital Asset Management Limited
White Oak Capital Group provides Indian equity investment management and advisory services based on solid investing ideals that strive to generate long-term concrete outcomes for all stakeholders. White Oak provides investment services to individual and institutional clients in India and throughout the world through a variety of fund vehicles registered in India, Ireland, Mauritius, and the United Kingdom, in addition to segregated managed accounts for renowned global institutions.
Fund Snapshot
| Fund Category | Category III AIF (Open-Ended, Non-Retail) |
| Currency | USD-Denominated |
| Minimum Investment | USD 150,000 (with drawdowns) |
| Fund Management Entity | Ashoka WhiteOak Capital Management (GIFT) LLP |
| Underlying Scheme | WhiteOak Capital Multi Cap Fund (India-domiciled open-ended mutual fund) |
| Subscription/Redemption | Weekly, every Wednesday |
| Exit Load | 2% (Year 1), 1% (Year 2) from final contribution date |
| Operating Expenses | Capped at 0.5% |
| Custodian | Orbis Financial Corporation Limited |
| Registrar | CAMS (Computer Age Management Services Limited) |
Investing Philosophy
Focus on Stock Selection, Not Macros
WhiteOak’s philosophy is simple yet powerful: invest in great businesses at attractive valuations, rather than betting on sectors or styles.
Proprietary Opco-Finco Framework
This robust valuation framework separates operating and financing entities, allowing a more precise estimation of intrinsic value based on Excess Return on Invested Capital (EROIC).
Disciplined Portfolio Construction
WhiteOak’s investment process filters a universe of ~1,300 Indian listed companies to construct a final portfolio of 80–120 stocks based on governance, growth potential, capital efficiency, and relative valuation. This disciplined structure is a hallmark of the White Oak AIF strategies offered to global investors.
Philosophy at WhiteOak Capital: Focus on Stock Selection
WhiteOak’s philosophy centers on identifying:
1. Great Businesses
- Well-managed, scalable companies with superior returns on capital.
Attributes of Great Businesses:
- Superior returns on incremental capital
- Scalable long-term opportunity
- Strong execution and governance
2. Attractive Valuation
- Investing at a significant discount to the company’s intrinsic value.
Valuation Principles:
- Intrinsic value = Present value of future cash flows
- Focus on return on capital over cost of capital
Why Choose This Fund?
- Access India’s growth story through a trusted manager with global credibility
- Strategic diversification across cap sizes and sectors
- Transparent, disciplined investment process
- USD-denominated, weekly liquidity
- GIFT City tax and regulatory advantages
Fund Overview
The Ashoka WhiteOak India Multicap GIFT Fund is an offshore investment vehicle structured as a Category III AIF (Alternative Investment Fund) and is based in the GIFT IFSC (International Financial Services Centre) in India. This open-ended fund is specifically designed for Non-Resident Indians (NRIs) and foreign investors from various jurisdictions. Resident Indians are not permitted to invest.
The fund is managed by Ashoka WhiteOak Capital Management (GIFT) LLP, acting as the Fund Management Entity (FME), and it operates as a feeder fund into the WhiteOak Capital Multicap Fund, which is the underlying mutual fund scheme managed by WhiteOak Capital Asset Management Limited in India.
This fund is USD-denominated, and all Net Asset Values (NAVs) are maintained in USD. It allows for a minimum investment of USD 150,000, along with provisions for drawdowns.
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Learn about the experienced fund managers responsible for investment decisions, portfolio strategy, and long-term fund performance.
Prashant Khemka
Mr. Prashant R. Khemka is the founder and Managing Director of White Oak Capital Management, founded in June 2017. A Mumbai native, Prasad was born on 4 November 1971. He has a Bachelor of Engineering in Mechanical Engineering from the University of Bombay and an MBA in Finance from Vanderbilt University.
Initially, he worked at State Street Global Advisors as Assistant Portfolio Manager in Boston after completing his MBA. Prashant has also worked as the chief investment officer and lead portfolio manager at Goldman Sachs Asset Management.
An experienced investment professional, he has worked in business development, portfolio management, and other business operations for more than two decades.
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