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

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.