MUMBAI, Nov 17 (Reuters) - Global private-equity firm KKR & Co LP invested an undisclosed sum in Indian wealth manager and financial adviser Avendus Capital, the companies said on Tuesday.
A source familiar with the matter said KKR had acquired a majority stake for slightly over $100 million. KKR has been an active investor in India this year with its investment in companies such as JBF Industries Ltd.
KKR, which is investing through its Asian Fund II, bought Avendus shares from private-equity firm Eastgate Capital and investment firm Americorp Ventures. Further details of the deal were not disclosed.
Avendus’ existing management will remain at the helm, the companies said in a statememnt. (Reporting by Karen Rebelo in Mumbai; Editing by Gopakumar Warrier)