Blackstone acquires majority stake in India's ASK Investment Managers

Blackstone Inc., through private equity funds it manages, acquired a majority stake in India-based wealth management firm ASK Investment Managers Ltd. from Advent International Corp. and others.

The companies involved did not disclose the details of the transaction. ASK Investment Managers manages over $10.6 billion in assets as of Dec. 31, 2021.

Nomura was the exclusive financial adviser to ASK Investment Managers and Advent International, while KPMG and AZB & Partners were advisers to the Indian wealth manager. BCG, Ernst & Young, Moelis, Simpson Thacher & Bartlett and Trilegal were the advisers to Blackstone on the transaction.