IIHL and Invesco Form Asset Management Joint Venture
IndusInd International Holdings (IIHL) has completed its acquisition of a 60% stake in Invesco Asset Management Co, forming a strategic joint venture following regulatory approvals. The partnership aims to create a global BFSI powerhouse by 2030.
Key Takeaways
- IIHL acquires 60% stake in Invesco Asset Management India
- Joint venture targets global BFSI leadership by 2030
- Combined reach of 11,000+ touchpoints and 45 million customers
- Expansion planned in Tier 2/3 cities and digital channels
“At IIHL, we are very enthused with this JV with Invesco, to augment our para banking portfolio by including Asset Management, and be a global financial (BFSI) powerhouse by 2030,” Ashok Hinduja, Chairman of IIHL said.
Management Continuity and Expansion Plans
The joint venture will operate under the same management led by Saurabh Nanavati, CEO of Invesco Asset Management. There will be no change in Invesco’s investment focus and client service approach.
“Together, we aim to strengthen our reach and expand distribution, especially in Tier 2 and Tier 3 towns. We also aim to increase our presence and offerings through GIFT City, SIFs, Passive Products and Digital channels,” Nanavati said.
Market Position and Combined Strengths
As of September, Invesco Asset Management ranks as India’s 16th largest domestic asset manager with average assets under management of Rs 1.48 lakh crore and presence across 40 cities.
The partnership combines Invesco’s global investment expertise with IIHL’s extensive distribution network of over 11,000 touchpoints serving 45 million customers. The collaboration aims to extend the customer base by another 50 million through synergistic business operations.
Advisory Team
Motilal Oswal Investment Advisors served as exclusive financial advisor to IIHL, while Crawford Bayley and AZB provided legal counsel to IIHL and Invesco respectively.
