M&A

M&A

IndusInd Holdings acquires 60% stake in Indian arm of asset mgmt firm Invesco

Business Standard  

Hinduja Group’s IndusInd International Holdings (IIHL) has entered the asset management space with the acquisition of a 60% stake in US-based Invesco’s Indian arm, Invesco Asset Management India (IAMI).IAMI’s Invesco Mutual Fund is the 17th-largest fund house in India with average assets under management (AUM) of over INR 74,300 crore in the March quarter. It manages nearly INR 85,400 crore through mutual fund schemes and offshore advisories.IIHL is the promoter entity of IndusInd Bank, the fifth-largest private-sector bank in India.