IIFL Wealth Acquires Majority In India Alt PE Fund

Apr 7 2014 | 12:29pm ET

Financial services firm India Infolines' wealth management arm has acquired a majority stake in India Alternatives Investment Advisors, the investment manager to the India Alternatives Private Equity Fund.

The value of the deal was not revealed.

IIFL said it had made a “significant contribution” to the India Alt Fund, which has $38 million in commitments and invests in mid-stage growth companies.

Fund founder Shivani Bhasin Sachdeva, who will continue to manage the fund for IIFL Wealth, said she was looking for opportunities in the consumer and consumables, healthcare and pharma spaces.

The India Alt Fund is reported to have made three investments since 2010: two in education, one a co-investment in an undergarments maker.

"This acquisition will enable IIFL Group to widen its presence in the PE industry and provide an added offering under the asset management platform," said Nirmal Jain, chairman of IIFL Group, in a statement.

IIFL announced earlier this year it had raised $117.3 million for a real estate fund.

Mumbai-based IIFL Wealth Management advises high net-worth individuals and ultra high net worth individuals and manages assets of over $9 billion.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Saxby: Not All EBITDA Is Created Equal

Nov 30 2017 | 8:02pm ET

Record levels of dry powder are driving competition among private equity firms to...