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Natixis Global (a French fund manager) has bought 25 percent stake in Infrastructure Development Finance Company’s (IDFC) asset management business, Asset Management Company Limited (AMC) for Rs. 300 crore ($66 million).
Amarchand & Mangaldas advised Natixis Global with a team led by Partner Vandana Shroff along with Principal Associate Gurpreet Ashar and Associate Ratnadeep Roychowdhury.
Desai & Diwanji advised IDFC and IDFC AMC Limited with a team led by Partner Apurva Diwanji along with Associate Partner Devika Cariapa, Senior Associate Natasha Treasurywala and Associate Aparna Nair.
The VC Circle reports the deal would help IDFC Asset Management Company (IDFC AMC) expand its distribution to international markets. The deal also includes Natixis Global Asset Management, a 100 percent subsidiary of French corporate and investment bank Natixis, buying a 25 percent stake in the trustee company of the AMC. Natixis Global Asset Management is one of the 15 largest asset managers in the world based on assets under management. The deal would help it participate in the Indian equity markets.