American private equity firm Blackstone has closed its previously announced deal to acquire a majority stake in India-based ASK Investment Managers.
Under the agreement, private equity firm Advent International and cofounder Asit Koticha respectively sold their 49% and 11% stakes in the firm to Blackstone, according to a report by The Economic Times.
“Blackstone’s global reach and deep knowledge of the financial services sector will further strengthen our asset and wealth management businesses and help us grow significantly.”
Nomura was the exclusive financial advisor to ASK and Advent on the transaction. ASK was advised by KPMG and AZB & Partners while BCG, Ernst & Young, Moelis, Simpson Thacher & Bartlett, and Trilegal served Blackstone.
Read more: Private Banker International
