Saffron merger boosts IL&FS Investment Managers' AUM to $3.2 billion

IL&FS Investment managers (IIML) today announced the completion of the acquisition of shares of Saffron Asset Advisors Pvt Ltd (SAAPL) and its merger with IIML's subsidiary IL&FS Investment Advisors LLC (IIAL).

The completion of the transaction has boosted the assets under management  of IIML and its associates to $3.2 billion.

IL&FS, the only listed private equity firm in the country, said Saffron Asset Advisors will operate a subsidiary of the company.

The acquisition also makes IIML the manager of the Euro 220-million Euronext-listed Yatra Capital as also Saffron India Real Estate Fund.

"This is a significant milestone in our ongoing strategy to diversify our asset base and investors and further consolidates our position as the largest Indian private equity fund manager.

The merger will not only provide us significant scale but the existing experienced team of Saffron will provide synergies to our real estate private equity platform.