CCI approves acquisition of IIFL Wealth Administration stake by BC Asia Investments

The Competitors Fee of India (CCI) on Tuesday mentioned it has authorized the acquisition of as much as 24.98 per cent shareholding of IIFL Wealth Administration Restricted by BC Asia Investments X Restricted. IIFL Wealth Administration Restricted is a non-public wealth administration agency in India. IIFLWM serves the extremely specialised and complex wants of excessive net-worth and ultra-high web price people, prosperous households, household places of work and institutional purchasers by a complete vary of tailor-made wealth administration options.

BC Asia Investments X Restricted proposes to accumulate 24.98 per cent shareholding in IIFL Wealth Administration Restricted, the Competitors Fee of India mentioned in a press release. BC Asia is an funding holding firm integrated beneath the legal guidelines of Mauritius, and its goal is to carry long-term investments. BC Asia is not directly held by funds or autos managed by Bain Capital Traders, Bain Capital Credit score Member, Bain Capital Member II and Canadian Pension Plan Funding Board (CPPIB).

Bain Personal Fairness is a non-public fairness funding agency that invests, by its household of funds, in firms throughout many industries, together with data expertise, healthcare, retail and shopper merchandise, communications, monetary and industrial/manufacturing. Bain Credit score is a number one world credit score specialist with that invests up and down the capital construction and throughout the spectrum of credit score methods, together with leveraged loans, high-yield bonds, distressed debt, non-public lending, structured merchandise, non-performing loans and equities.

CPPIB is knowledgeable funding administration group that invests the funds transferred to it by the Canada Pension Plan Fund (CPP Fund) that aren’t wanted by the CPP Fund to pay present advantages on behalf of its numerous contributors and beneficiaries. In an effort to construct a diversified portfolio of belongings, CPPIB invests in public equities, non-public equities, actual property, infrastructure and stuck earnings devices. (ANI)

(This story has not been edited by Devdiscourse employees and is auto-generated from a syndicated feed.)

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