Private Equity Private Equity Fund Investments
Blackstone to buy 74% in ASK Group for $1-B: report
Global Private Equity firm Blackstone has bought a controlling 74% stake in the Mumbai-headquartered wealth management focused ASK Group for USD 1 billion. Blackstone will acquire the about 40% stake held by fellow US-headquartered PE investor Advent International, while ASK's promoters would retain an equity stake after the deal.
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From the Venture Intelligence PE-VC Deal Database: In Dec-2016, Advent had invested $125-M in ASK Group. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)