Bain Capital, a leading global global multi-asset alternative investment company on March 31 announced that it has agreed to obtain 24.98 percent of the shares of equity in the management of IIFL’s wealth of the General Atlantic Singapore Fund and FIH Mauritius Investments, the Fairfax Indian subsidiary owned by fully owned Company.

Transactions are subject to other customary regulations and agreements.

Karan Bhagat, executive director and chief executive, Iiflwam, said: “Bain Capital investment is proof of our strong leadership franchise in the financial services room, and in the ability of our team to continue to implement and grow business. We look forward to them on board.”

As of December 31, 2021, IIFL Wealth assets under management reached ~ $ 44 billion. It was founded by first-generation entrepreneurs, Karan Bhagat, MD & CEO, IIFL wealth and Yatin Shah, CEO together, IIFL Wealth, in 2008.

The company manages wealth and assets of high net wealth and individuals, very high family offices.

Pawan Singh, Managing Director at Bain Capital, said: “We like to partner with Karan, Yatin and IIFL’s wealth management team. They have built major brands in wealth management and assets in India behind innovation, customer centers and consistent performance. The company is ready To benefit from the tailings of a required SEKOR from the creation of wealth in the economy, greater financial, and increasing the penetration of formal wealth management. “

JP Morgan acts as an exclusive sales side financial advisor about transactions. Axis and Novadhruva capital acts as a financial advisor for Bain Capital.