Global private equity fund Advent International has picked up a significant minority stake in unlisted financial services group ASK Financials.
ASK Group provides stock broking services. The company later diversified into wealth advisory services. It is a leading player in India’s growing investment management market.
Financial services continues to be attractive for the private equity investors in the country. Some of the top deals in the sector this year has been ChrysCapital’s investment in Hero FinCorp and CDC Group’s investment in IIFL. Financial services has always been a safe bet for global investors who see the sector as a proxy to the Indian growth story.