IIFL Announces Strategic Growth Investment from General Atlantic in its Subsidiary, IIFL Wealth
India’s leading wealth management company to partner with leading global growth investor on continued growth and platform expansion
IIFL Holdings Limited (Bloomberg: IIFL IN), announced today that General Atlantic, a leading global growth equity firm, will make a strategic investment to become a minority shareholder in its wealth subsidiary, IIFL Wealth Management Limited (“IIFL Wealth”), one of India’s leading wealth management companies. General Atlantic’s iinvestment will help to support the company’s continued growth and platform expansion as the premier wealth management company in India.
“A weaker growth outlook will dampen the prospects for fiscal consolidation.”
Nirmal Jain, Founder and Chairman, IIFL Holdings added, “It is with this continued commitment to our customers that we welcome General Atlantic as a strategic partner for our next phase of growth. As a leading investor with deep expertise in financial services and wealth management, General Atlantic is well-aligned with our mission and will help to take IIFL Wealth to the next level through expanded products and services.” “We are excited to partner with IIFL and senior management team led by Karan as he continues to expand his highly talented team at IIFL Wealth,” said Sandeep Naik, Managing Director and Head of India for General Atlantic. “As the market opportunity for wealth management in India grows, we believe the company is well-positioned to continue its leadership position as the platform of choice for Indian investors.