TPG Capital in talks to buy up to 20% of India’s IIFL Capital
U.S. private equity firm TPG Capital is reportedly negotiating to acquire a stake of up to 20% in Indian securities company IIFL Capital Services, according to sources familiar with the deal. Due diligence is underway, and if completed, TPG could gain a strategic role in management decisions.
Earlier reports had suggested a larger 30–40% stake valued at $404–$539 million, but sources indicate the initial deal will likely be smaller. IIFL shares rose as much as 5.3% in early trading before settling slightly higher, News.Az reports, citing Reuters.
IIFL Group founder Nirmal Jain is exploring expansion into areas such as alternative investment funds, private credit, and wealth management. India’s wealth management sector is expected to grow from $1.1 trillion in 2023–24 to $2.3 trillion by 2028–29, according to Deloitte.
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