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|| QInvest bought 25% of Indian financial advisory firm for $54 million

ambit-qinvest.jpgQInvest, a Qatari investment bank, has agreed to make a strategic investment in Ambit Group, an Indian investment banks, for a 25% stake in the firm.

India's Economic Times has reported the deal value at around $54 million. The deal, the company's first investment in India, will help Ambit expand its investment banking, advisory and private wealth businesses.

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Their full press release follows

QInvest, Qatar's leading investment bank, has agreed to make a strategic investment in Ambit Group, one of India's leading investment banks, for a 25% stake in the firm, subject to regulatory approval. QInvest's CEO, Shahzad Shahbaz, will join Ambit's board.

This represents QInvest's first investment in India and underpins the bank's focus on the rapidly growing Indian market. In addition, QInvest will commit incremental capital to various funds managed by Ambit Group.

The proposed capital infusion will enable Ambit to leverage on its consistently high performing investment banking business and would primarily be utilized to grow various businesses including institutional equities, investment advisory and private wealth advisory.

Commenting on the deal, Shahzad Shahbaz said, "We are delighted to partner with Ambit, one of India's preeminent financial services firm. This partnership will generate a number of synergies for both firms and will dramatically accelerate QInvest's ambitions in India, one of the world's fastest growing economies. We see significant opportunities for our clients and ourselves across investment management, investment banking, private equity and brokerage."

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