The Economic Times recently felicitated Karan Bhagat, Founder, MD & CEO, IIFL Wealth & Asset Management and alumnus of PGP 2001, as one of the ‘Promising Business Leaders of Asia in 2021-2022’. The award recognises eminent business leaders and trailblazers who have made a mark by unlocking the business potential in a pandemic year
26 APRIL, 2022: Karan Bhagat, Founder, MD & CEO, IIFL Wealth & Asset Management, has been honoured with the Economic Times ‘Asia’s Promising Business Leaders 2021-22’ award. The award recognises business leaders who have played an instrumental role in making Asia the business epicentre of the world. An alumnus from the PGP Class of 2001 from IIM Bangalore, Karan Bhagat is a first generation entrepreneur.
This recognition is a testament to the firm he’s built and nurtured over the years, while providing direction and leadership to the team. In his acceptance, Karan Bhagat said: “Modesty, simplicity and client centricity have been our mantras since inception.”
IIFL Wealth is a key player in the wealth and asset management business. It serves the highly specialised and sophisticated needs of high net worth and ultra-high net worth individuals, family offices and institutions.
Bain Capital, a leading global alternative investment firm, recently announced that it was acquiring 24.98% stake in IIFL Wealth Management for Rs 3,680 crore from General Atlantic Singapore Fund Pte and FIH Mauritius Investments, a wholly-owned subsidiary of Fairfax India Holdings Corporation.
“Bain Capital’s investment is a testament to our strong leadership franchise in the financial services space, and in our team’s ability to continue to execute and grow the business to scale,” Karan Bhagat had said in a recent newspaper interview.