Tuesday, 23 September 2014
Last updated 13 hours ago
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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.