News From Press Blackstone looks to buyout L&T Mutual Fund, expand India financial services play

Blackstone looks to buyout L&T Mutual Fund, expand India financial services play

Source: Mint Oct 20, 2020

Private equity giant Blackstone is in advanced talks with engineering behemoth Larsen and Toubro Ltd.’s financial subsidiary L&T Finance to completely buyout the mutual fund business of L&T Asset Management Company, This, as the New York-based PE firm is aggressively looking to enhance its India play, especially in the financial services space, said two people with direct knowledge of the matter, on the condition of anonymity.

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