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  Business   Companies  15 Feb 2022  Blackstone buys majority stake in ASK

Blackstone buys majority stake in ASK

THE ASIAN AGE. | RAVI RANJAN PRASAD
Published : Feb 15, 2022, 9:27 am IST
Updated : Feb 15, 2022, 9:27 am IST

Blackstone acquired 70 per cent stake from promoters and employees valuing the company at $1 billion

ASK manages more than $10.6 billion (Rs 78,500 crore) in assets as of December 31, and caters to high networth clients across Asia, the Middle East, Africa, and Europe. ASK is one of the first portfolio managers in India catering to HNIs, family offices and institutions for nearly 30 years. — Representational image/By arrangement
 ASK manages more than $10.6 billion (Rs 78,500 crore) in assets as of December 31, and caters to high networth clients across Asia, the Middle East, Africa, and Europe. ASK is one of the first portfolio managers in India catering to HNIs, family offices and institutions for nearly 30 years. — Representational image/By arrangement

Mumbai: US private equity and alternative asset manager Blackstone  announced acquisition of a majority stake in ASK Investment Managers, one of the largest asset and wealth management firms in India for high networth individuals, in a deal worth several thousand crore rupees.

As per reports, Blackstone acquired 70 per cent stake from promoters and employees valuing the company at $1 billion.

 

ASK manages more than $10.6 billion (Rs 78,500 crore) in assets as of December 31, and caters to high networth clients across Asia, the Middle East, Africa, and Europe.
ASK is one of the first portfolio managers in India catering to HNIs, family offices and institutions for nearly 30 years.

Sameer Koticha, founder promoter and chairman, ASK, said: "Blackstone’s global reach and deep knowledge will strengthen our asset and wealth management businesses."

Tags: us equity manager blackstone, ask investment managers