Last year, private equity giant Blackstone emerged as the frontrunner for a Rs 3,200- crore acquisition of L&T Mutual Fund, but the deal closure would hinge upon approval from the capital markets regulator, which generally frowns upon private equity ownership of mutual funds.source https://economictimes.indiatimes.com/industry/banking/finance/lt-finance-holdings-in-talks-with-hsbc-to-sell-its-mf-arm-report/articleshow/85760921.cms
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