Invesco buys stake in Indian investment firm

Atlanta-based investment managemer Invesco said Thursday it has entered into a deal to acquire a 49 percent stake in a top 15 investment firm in India.

The joint venture in Religare Asset Management Co., a subsidiary of Religare Enterprises Ltd., expands Invesco’s presence in India, the world’s second-largest nation by population. Invesco affiliate WL Ross & Co. has operations in Mumbai and Hyderabad, the company said.

Religare Asset Management has more than $2.6 billion in assets under management, according to a news release.

Terms of Invesco’s joint venture, to be called Religare Invesco Asset Management Co., were not disclosed. The deal is subject to regulatory approval.

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