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US-based fund manager Blackstone’s buying into ASK Group is expected to give it access to a strong network of domestic high net worth individuals and family offices of the latter, according to senior executives in investment banking and fund management firms.
Blackstone has bought 74 per cent in Advent International-backed ASK Group for about Rs 7,400 crore, reports said on Wednesday.
“All these days Blackstone was raising only global funds. Now it can tap domestic investors. Foreign capital comes with a currency risk. When you buy core assets, you can’t have a currency risk,” said a managing director
Blackstone has bought 74 per cent in Advent International-backed ASK Group for about Rs 7,400 crore, reports said on Wednesday.
“All these days Blackstone was raising only global funds. Now it can tap domestic investors. Foreign capital comes with a currency risk. When you buy core assets, you can’t have a currency risk,” said a managing director
