HSBC Mutual Fund is in talks to buy the mutual fund arm of L&T Finance Holdings for Rs 2500 crore – Rs 3000 crore to grow its asset management business in India as part of its Asia strategy to double down on the wealth management business, said multiple sources aware.
Private equity firm Blackstone has been looking to acquire L&T Mutual Fund, but the deal has not fructified due to differences in valuations and pending regulatory approval. L&T has been looking to exit several of its non-core ..
