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India okays Blackstone buyout of ASK Investment Managers

By Munikoti Rochan

14:47, 15 November 2021

Approved stamp.
Approved stamp – Photo: Shutterstock

India’s competition watchdog has given its nod for US private equity giant Blackstone Group’s takeover of Mumbai-based ASK Investment Managers.

In a 15 November media statement, the Competition Commission of India (CCI) said it approves Blackstone affiliate BCP TopCo XII’s acquisition of a 71.25% shareholding in the asset and wealth management company.

Singapore-based BCP TopCo XII “is an affiliate of funds advised or managed by the affiliates of the Blackstone Group… at present, it does not have any business operations, in India or worldwide”, the regulator said in the statement.

The target, “directly and through the associate and subsidiary companies, is engaged in the business of providing financial services…” it added.

The statement did not disclose the value of the deal. However, a news report published earlier this year stated that Blackstone spent $1bn (£745.2m) for the majority stake.

ASK Investment Managers

ASK Investment Managers (IM) offers portfolio management services to individuals, groups of individuals, family offices, among other entities, in addition to distributing financial products like insurance and mutual funds. The firm invests exclusively in listed Indian equities for India domiciled and offshore clients, through segregated accounts as well as commingled funds, per its website.


37,811.80 Price
+0.040% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00


2,036.31 Price
-0.400% 1D Chg, %
Long position overnight fee -0.0196%
Short position overnight fee 0.0114%
Overnight fee time 22:00 (UTC)
Spread 0.30


15,926.40 Price
-0.470% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 1.8


0.61 Price
-0.110% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168

ASK IM is the holding company of the ASK Group, which is backed by Blackstone rival Advent International.

ASK Wealth Advisors, ASK Property Investment Advisors, and ASK Pravi Capital Advisors are the other group entities. ASK operates ten offices in India, an office in Dubai that manages clients in the GCC and the Africa regions, and an office in Singapore that is responsible for real estate and equity investments made in India.

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Globally, Blackstone’s private equity arm has invested in 104 companies and has $120bn in assets under management, according to its website.

Blackstone has a market capitalisation of around $172bn on the New York Stock Exchange, where its stock has zoomed some 128% so far this year.

Blackstone opened higher in US trading at $143.50 per share.

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1.04 +0.930%

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

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