Bain Capital, global private equity firm, today announced that it has agreed to acquire 24.98% equity stake in IIFL Wealth Management Limited for Rs 3,680 crore ($485.6 million).
Existing investors General Atlantic and Fairfax India Holdings Corporation will make partial exit from IIFL Wealth, part of the homegrown financial services firm IIFL Group.
Mumbai-based IIFL Wealth Management is among the leading wealth and alternative asset managers in India with ~$44 billion (around Rs 3.3 trillion) in assets (as on December 31, 2021).
Read more: VCCircle
