IIFL Wealth Management
IIFL Wealth Management Ltd. has confirmed that that it has acquired a majority stake in India Alternatives Investment Advisors Private Ltd. (India Alt).
India Alt is a private equity fund registered with capital market regulator SEBI. With an initial commitment of Rs 230 crore, it makes investments primarily in mid-growth stage companies.
IIFL Wealth is the private wealth management division of IIFL Group, which is making efforts to expand its presence in the private equity industry and provide an additional offering under its asset management platform.