On December 21, 2016, Advent International announced it had acquired a significant minority interest in ASK Group.
Advent International (“Advent”) is a global private equity investment firm. Advent has made this acquisition of a minority stake in ASK Group (“Ask”) from its new global private equity fund, GPE VIII. ASK’s founders will retain a majority stake in the company. ASK’s management will continue to lead the team. This is Advent’s third investment in India since 2007.
ASK is India’s largest equity portfolio management service provider, and a real estate investment manager and wealth manager. ASK manages over $4.4 billion in assets under management. Moelis & Company served as exclusive financial advisor to ASK on the transaction.
To read the press release: please click here.