L&T Mutual Funds may be the first ever buyout Indian AMC by non-mutual fund company

Slow Dance

New York based PE firm, Blackstone aggressively expanding its portfolio in Indian finance sector. The PE firm has already invested over $15billion in the past years across private equity, real estate and tactical opportunities. Last year Blackstone executed India’s largest financial buyout in financial services, The Aadhar Housing financial for $470 million. With assets worth ₹63057.2 crores and 39 MF schemes, L&T AMC buy out will eventually enhance its India play. With SEBI’s approval, late this September, Blackstone and L&T will close the deal before 15 November if valuation is agreed upon.