• Blackstone has acquired a 65% stake in Ace Insurance Brokers Pvt Ltd, a New Delhi-based insurance intermediary. The remaining 35% will be held by the company's founders, Raj Vinay Ajmera and Anil Arora.
• The deal values Ace Insurance Brokers at approximately $350-400 million, with Blackstone investing between $227.5 million and $260 million. This transaction follows regulatory approvals and is one of the largest in India's insurance broking sector.
• Ace Insurance Brokers, founded 24 years ago, is a composite insurance and reinsurance intermediary with a presence in over 15 cities. Its client list includes major groups like Adani and DLF.
• This acquisition adds to Blackstone's existing financial services portfolio in India, which includes Aadhar Housing Finance Ltd and International Asset Reconstruction Company, and comes shortly after their minority stake acquisition in Federal Bank.

Ajay Ramanathan

Private equity firm Blackstone has closed a deal to take control of an Indian financial services company, barely a month.........

Blackstone wraps up over $225-mn India control deal

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Private equity firm Blackstone has closed a deal to take control of an Indian financial services company, barely a month after picking up a minority stake...

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Ace Insurance Brokers

Federal Bank

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