 "KKR invests in financial adviser Avendus Capital")
Global private-equity firm KKR & Co 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.
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