<article>Alternative investment giant <a href="http://www.dealstreetasia.com/?s=kkr" target="_blank">Kohlberg Kravis Roberts &amp; Co Ltd</a> (KKR) has invested $115 million in financial services firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=avendus" target="_blank">Avendus Capital</a>, according to a press release. </article>

Alternative investment giant <a href="http://www.dealstreetasia.com/?s=kkr" target="_blank">Kohlberg Kravis Roberts &amp; Co Ltd</a> (KKR) has invested $115 million in financial services firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=avendus" target="_blank">Avendus Capital</a>, according to a press release. 
The investment will be done through KKR&#8217;s Asian Fund II in tranches by way of primary and secondary transaction. In first tranche, KKR will buy 62.2 percent stake and will buy stake from <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Eastgate+Capital" target="_blank">Eastgate Capital</a> and <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Americorp+Ventures" target="_blank">Americorp Ventures</a> &#8211; early investors in Avendus. 
This is subject to customary regulatory approvals.
The funding will help Avendus to foray into the credit solutions business and to grow its wealth and alternative asset management solutions offerings to its customers.
“We have excellent potential to expand our businesses and to become a comprehensive financial services provider to India’s first-generation businesses. KKR’s capital commitment and support will enable us to provide a broader set of synergistic services and products to these clients, which can catalyse their growth. We are very excited about what this partnership means for our clients and colleagues,&#8221; said Rahul Vohra, MD &amp; CEO, Avendus.
<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Eastgate+Capital" target="_blank">Eastgate Capital</a> had invested Rs 100 crore in Avendus in 2008 for 26 per cent stake while Americorp Ventures, an angel investor, held 13 percent since its inception.
Mumbai-headquartered Avendus provides customised solutions in the areas of financial advisory and wealth management. Over the last five years, the financial advisory firm has closed 26 cross-border transactions.
Recently, the firm <a style="color: #000080;" href="http://www.dealstreetasia.com/stories/india-avendus-appoints-rajini-kodialam-as-director-of-wealth-management-16523/" target="_blank">appointed</a> Rajini Kodialam as director of wealth management. Prior to that in June, Deepak Bhandari was roped in to lead its European subsidiary Avendus Capital (UK) Pvt Ltd.
“India is witnessing unprecedented demand for innovative and integrated financial services products as a result of rising entrepreneurship across sectors. Avendus is a world-class firm built and run by three visionary founders, which delivers solutions to meet this demand by offering diverse alternative investment products and wealth advisory services,&#8221; said Sanjay Nayar, CEO, KKR.
“As Ranu, Gaurav, Kaushal and the Avendus team continue to build on this banking franchise by seeking opportunities to elevate the company to the next level, KKR’s investment will aid this effort by accelerating the build-out of the Company’s highly sought-after investment banking platform which can be benchmarked against the world’s best,” added Nayar.
 Khaitan &amp; Co advised Avendus on this deal.
KKR which <a style="color: #000080;" href="http://www.dealstreetasia.com/stories/us-based-townsend-group-invests-in-kkrs-realty-nbfc-in-india-19468/" target="_blank">received</a> funding from <a style="color: #000080;" href="http://www.townsendgroup.com/" target="_blank">The Townsend Group</a>, a global investment management solutions firm, last week, has been actively providing PE funding/ credit to Indian companies.
Out of its Indian portfolio, it marked the first exit in July from <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Bharti+Infratel" target="_blank">Bharti Infratel</a> in which it invested around seven years ago. Before that, KKR raised $3.1B for global infrastructure fund.
Also Read: <a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/pe-firm-eastgate-capital-seeks-exit-from-boutique-investment-bank-avendus-13069/" target="_blank">PE firm Eastgate Capital seeks exit from boutique investment bank Avendus</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/sgkkr-investing-179-6m-in-ramba-energys-lemang-psc-14631/" target="_blank">PE firm KKR to invest $180m for 35% stake in Ramba subsidiary Lemang PSC</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/global-firms-kkr-chernin-group-to-create-platform-to-invest-in-asian-media-firms-18090/" target="_blank">KKR to invest $300m in pan-Asia media investment platform, with Chernin Group</a>

Financial services firm Avendus Capital will receive an undisclosed amount of funding from alternative investment giant Kohlberg Kravis Roberts & Co Ltd.

PE giant KKR invests $115m in India's Avendus Capital for 72% stake

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PE giant KKR invests $115m in India's Avendus Capital for 72% stake

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