InvestorQ : Why is Blackstone planning to buy into ASK Wealth business?
Anamika Sodhani made post

Why is Blackstone planning to buy into ASK Wealth business?

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Angel dcosta answered.
4 months ago
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One of the world’s leading private equity funds, Blackstone, is currently in negotiations to acquire a majority stake in ASK Group. The ASK group has been one of the very aggressive and focused players in the wealth management space. Currently, ASK group is backed by Advent International, which interestingly competes with Blackstone globally for PE investments. Blackstone is expected to buy around 74% stake in ASK Group.

These are early days to comment on valuations, but it is estimated that the ASK group may be likely valued at approximately $1 billion or close to Rs.7,500 crore. ASK had been valued at around $325 million enterprise value when Advent International had picked up the stake in the year 2016. This will be a big wealth deal after a long time, since PAG group picked up a controlling 61.5% in Edelweiss Wealth for a consideration of Rs.2,366 crore.

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image
Angel dcosta answered.
4 months ago
Follow

One of the world’s leading private equity funds, Blackstone, is currently in negotiations to acquire a majority stake in ASK Group. The ASK group has been one of the very aggressive and focused players in the wealth management space. Currently, ASK group is backed by Advent International, which interestingly competes with Blackstone globally for PE investments. Blackstone is expected to buy around 74% stake in ASK Group.

These are early days to comment on valuations, but it is estimated that the ASK group may be likely valued at approximately $1 billion or close to Rs.7,500 crore. ASK had been valued at around $325 million enterprise value when Advent International had picked up the stake in the year 2016. This will be a big wealth deal after a long time, since PAG group picked up a controlling 61.5% in Edelweiss Wealth for a consideration of Rs.2,366 crore.

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