Mizuho closes in on KKR's Avendus Capital majority stake
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The news: Japanese lender Mizuho Financial Group is close to inking a deal to acquire KKR’s stake in Indian investment bank Avendus Capital, according to anonymous sources cited by Bloomberg.
The numbers: Mizuho is seeking to buy private equity giant KKR’s 63% stake in Avendus, which would value the Indian firm at around USD800 million ($1.27 billion).
The context: KKR bought its majority stake of Avendus in 2015, agreeing to invest more funds in 2017.
The move underlines Mizuho’s ambitions for overseas expansion, and follows the same model it took with its 2023 purchase of US investment bank Greenhill & Co, by acquiring a local partner to build out its dealmaking business.
Mizuho also injected USD20 million into green investment firm Pollination in November 2024. The investment saw Mizuho take a minority stake in the business and extended the Japanese lender’s reach across South-East Asia, EMEA and Australia.
The source: Bloomberg
