US Major Bain Capital To Acquire 25% Stake in This Indian Wealth Management Firm

By Malvika Gurung — The American management consulting major Bain Capital has announced on Thursday that it will be acquiring a 24.98% equity stake in the Indian wealth management firm IIFL Wealth, from the company’s existing investors.

The Boston-based management consulting giant will buy an almost 25% stake in IIFL Wealth from the latter’s existing private investors General Atlantic Singapore Fund and FIH Mauritius Investments at Rs 1,661/share, valuing it at Rs 3679.95 crore.

FIH Mauritius Investments is a wholly-owned subsidiary of the investment holding company Fairfax India Holdings.

At present, General Atlantic holds a 21.6% stake in IIFL Wealth, worth Rs 1122 crore, while Fairfax holds around a 13.6% stake in the company. The transaction between Bain and the private investor companies is subject to regulatory and other customary approvals.

As of Dec 31, 2021, IIFL Wealth has over $44 billion in assets under management, and the company manages the wealth and assets of HNIs and UHNIs, spread over 4 major financial hubs across the world and in 23 Indian locations.

JP Morgan acted as the exclusive sell-side financial advisor on the transaction. Axis Capital and NovaDhruva acted as financial advisors to Bain Capital, stated multiple news sources.

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