Bain Capital acquires 24.98% stake in IIFL Wealth for 3,679 Cr.


Private equity firm Bain Capital announced on Thursday that it will acquire a 24.98% stake in IIFL Wealth Management Limited for ₹3,679 crore.

BC Asia Investments X Limited, a subsidiary of Bain Capital, has proposed a $2.2 billion stake from General Atlantic Singapore Fund Pte Ltd. and FIH Mauritius Investments Ltd., a wholly owned subsidiary of Fairfax India Holdings Corporation, to IIFL Wealth Management Limited (IIFLWAM).

On March 30, 2022, a share purchase agreement was entered into with General Atlantic Singapore Fund and FIH Mauritius Investments.

The transaction is subject to regulatory and other customary approvals, IIFLWAM said in a regulatory filing.

IIFLWAM is one of the wealth managers and alternative wealth managers in India with assets of US$44 billion (as of December 31, 2021).

Founded in 2008 by first generation entrepreneurs, Karan Bhagat and Yatin Shah, the company has grown into a financial services group serving the highly specialized and demanding needs of high net worth and ultra high net worth individuals, family offices and institutions through a comprehensive range of bespoke solutions , ranging from Wealth Management, Wealth Management, Credit Solutions and Estate Planning.

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