Hinduja Group acquires 60% stake in Invesco's India mutual fund unit, forming a joint venture.
Hinduja Group acquires 60% stake in Invesco's India mutual fund unit, marking its entry into the industry. The group's Mauritius-based investment holding company, IndusInd International Holdings, will partner with American asset manager Invesco to form a joint venture, with IIHL acquiring a 60% stake in Invesco Asset Management India (IAMI). Invesco will retain a 40% stake in the joint venture and both IIHL and Invesco will have sponsor status. IAMI has a combined onshore and offshore advisory and assets under management of ₹85,393 crore.
April 09, 2024
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