Mizuho to acquire stake in Avendus as KKR sells holding; Ranu Vohra to divest stake & exit post deal

Japan’s Mizuho Financial Group has agreed to acquire a stake in institutional financial services firm Avendus, marking an exit for KKR after nearly a decade as an investor.

Under the transaction, Redpoint Investments Pte. Ltd., an affiliate of KKR, will sell its shareholding in Avendus to Mizuho Securities Co. Ltd., a wholly owned subsidiary of Mizuho Financial Group. Avendus Co-founder and Executive Vice Chairman Ranu Vohra will also divest his stake and continue in his role until the transaction is completed, subject to statutory and regulatory approvals.

Reuters reported that Mizuho would acquire Avendus from KKR for up to 81 billion yen ($523 million).

Following the acquisition, Avendus will continue to be led by its founders, Gaurav Deepak and Kaushal Aggarwal, along with the existing senior leadership team. The firm will retain its brand, operating independence, and identity, while gaining access to Mizuho’s global balance sheet, institutional client base, and international distribution network.

The transaction positions Mizuho to significantly expand its investment banking and advisory capabilities in India at a time when cross-border capital flows, mergers and acquisitions, and private capital activity are accelerating, the firm said in a release.

Avendus will serve as a key platform for Mizuho’s M&A and capital markets ambitions across Asia-Pacific, the Americas, and EMEA, strengthening connectivity between Indian entrepreneurs and global capital, it said.

Confirming his exit from the firm, Ranu Vohra, Co-founder and Executive Vice Chairman of Avendus Group said, “After 26 incredible years of building Avendus alongside exceptional people, I step away with pride and gratitude…As I move on to a new chapter, I carry with me deep respect for what we have created and confidence in its future potential.”

Gaurav Deepak, Co-founder and CEO of Avendus Group said, “Mizuho mirrors our values, vision, and ambition to shape the future of financial services with purpose and impact.

Together, we look forward to bringing innovative capital solutions to the Indian ecosystem and leveraging our complementary strengths to create deeper financial and economic flows between India and Japan. Ranu has been an integral part of building Avendus. All of us at Avendus are deeply grateful for his contributions and wish him the best as he moves into his next chapter. We also thank KKR for their decade-long partnership and unwavering support in Avendus’ transformation.”

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Akshay Tanna, Partner and Head of India Private Equity, KKR said, “We have enjoyed a long and rewarding relationship with Avendus and are proud to have supported its evolution into a leading financial services institution marked by excellence and innovation. Together, we helped accelerate its transformation into a diversified, market-leading franchise with strong capabilities across its advisory and investment businesses. As Avendus enters its next chapter, we wish them continued success in the years ahead.”

Masahiro Kihara, President and Group CEO, Mizuho Financial Group

, said, “Avendus has been walking side- by-side with the entrepreneurs supporting India’s rise, and it makes us very happy to be able to welcome them as one of our key partners. Their journey parallels our own journey of innovating together with clients for social and economic development. With them, we aim to evolve into a truly global financial institution that creates new value by bridging diverse cultures beyond national and regional boundaries.”

 Yoshiro Hamamoto, President and CEO, Mizuho Securities, said, “Within the landscape of India’s remarkable growth, Avendus has a presence that is second to none. Welcoming them as a strategic partner for our M&A platform in APAC, the Americas, and EMEA will enable us to better support our clients with diversified, advanced solutions that make the most of our global client base and finance capabilities. We will collaborate closely with Avendus’ leadership, and together our two organisations will deliver even greater benefits for clients.”