IIFL Wealth


IIFL Wealth Management Ltd. is an Indian wealth management firm, and is part of IIFL Group, headquartered in Mumbai, India. The company has presence in 8 countries and 23 locations in India. It offers asset management, investment advisory, treasury, corporate advisory, financial and management consulting services. The company has been rated as A1+ by rating agencies such as CRISIL and ICRA.
As of September 30, 2018, IIFL Wealth Management has around ₹1.44 Lakh crore in assets under advice, distribution and management.

History

IIFL Wealth was founded in 2008. It operates as a subsidiary of IIFL Holdings, a diversified publicly traded financial services company, backed by Fairfax Financial.
In December 2018, IIFL Wealth Management launched the IIFL Wealth Index 2018 series, in partnership with Wealth-X.

Acquisition

In October 2018, the company acquired a Chennai-based wealth management firm, Wealth Advisors India for . IIFL Wealth Management acquired Ashburton India Equity Opportunities for an undisclosed amount in December 2017.
In February 2018, IDBI Bank sold its entire 30% stake in NSDL e-Governance Infrastructure to IIFL Wealth Management for, reportedly by Business Standard.
IIFL Wealth Management acquired non banking finance company Chephis Capital Markets in February 2016.
The company had bought a majority stake in India Alternatives Investment Advisors Pvt Ltd, a PE advisory firm, in April 2014.

Funding

In June 2018, the company raised from Ward Ferry, General Atlantic and others.
The New York based PE firm, General Atlantic acquired 21.61 per cent stake in IIFL Wealth Management for in October 2015.

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