private equity Titan It is close to appointing two banks to manage the formal process for the transaction, the people asked not to be named as the information is not public. Other investors of the Mumbai-based firm could also join KKR in the deal, leading to the sale of the company taking the stake to around 80% of the company, he said, without providing specific details.
People said that the talks are in early stage and there may not be instant transactions. A representative of KKR declined to comment and a representative declined to comment. avendus Did not respond to email immediately.
KKR announced it would buy a majority stake in Avendus in 2015 and agreed to invest more money in 2017, according to the company’s website. The Mumbai-based firm offers services including investment banking, wealth management, structured lending and alternative asset management.
Earlier this year, Avendus helmed by CEO Gaurav Deepak announced that it will acquire Spark Capital’s institutional equity business to offer equity capital markets services. The 23-year-old started as a boutique investment bank advising technology companies to raise capital and acquisitions.