American private equity firm KKR has agreed to invest in Avendus Capital, an Indian financial services firm providing customized solutions in the areas of financial advisory and wealth management.
The deal will allow Avendus to foray into the credit solutions business as well as expand its wealth and alternative asset management solutions offerings to its customers.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataKKR will buy shares from Eastgate Capital and Americorp Ventures, an early investor in Avendus.
Financial terms of the transaction, which is subject to customary regulatory approvals, have not been disclosed.
As part of the deal, Avendus co-founders Ranu Vohra, Gaurav Deepak and Kaushal Aggarwal, will continue to operate the platform’s day-to-day operations and its growth into the new businesses.
KKR member and CEO of KKR India Sanjay Nayar said: "As Ranu, Gaurav, Kaushal and the Avendus team continue to build on this banking franchise by seeking opportunities to elevate the company to the next level, KKR’s investment will aid this effort by accelerating the build-out of the Company’s highly sought-after investment banking platform which can be benchmarked against the world’s best."
Avendus managing director & CEO Ranu Vohra said, "Having created a platform which is trusted by entrepreneurs across industries, the mantra now for each of Avendus’ businesses is to ‘scale up’.
"KKR’s capital commitment and support will enable us to provide a broader set of synergistic services and products to these clients, which can catalyze their growth."
