Blackstone buys majority stake in wealth management firm ASK from Advent

Global private equity major Blackstone on Monday announced that it has acquired a majority stake in ASK Investment Managers, a nearly three-decade old asset and wealth management company managing over USD 10.6 billion in assets. The US-based private equity fund has acquired the majority stake from its peer Advent International and other sellers, as per an official statement, which added that the company will expand presence domestically and also overseas after the deal. However, the financial details of the deal were not disclosed. ASK is among the first portfolio managers in the country and has operations in other pockets of Asia, Middle East, Africa and Europe, it said, adding that the clientele includes India's high-net-worth individuals, family offices and institutions. Blackstone has diversified investments in India pegged at over USD 60 billion, and is among the biggest investors in the commercial real estate space in the country. As per an August 2021 media report, Blacksto

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