Bain Capital has agreed to acquire 24.98% equity stake in IIFL Wealth Management (IIFLWAM), one of the largest and fastest growing wealth and asset management firms in India from General Atlantic Singapore Fund Pte. and FIH Mauritius Investments, a wholly owned subsidiary of Fairfax India Holdings Corporation. The transaction is subject to regulatory and other customary approvals.
IIFL Wealth Management engages in the retail of financial products and services in India.