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The investment also comes on a day when India’s top court asked market regulator SEBI to investigate the group for any lapses related to public shareholding norms or regulatory disclosures. Based in Fort Lauderdale, Florida, GQG manages US$88 billion in assets, in global, US and emerging markets equities funds.
GQG took a 3.4% stake in Adani Enterprises for about US$662 million, 4.1% in Adani Ports for US$640 million, 2.5% in Adani Transmission for US$230 million, and a 3.5% stake in Adani Green Energy for US$340 million, according to the filing. Jefferies approached GQG about the deal roughly five weeks ago, when its senior leadership was in Miami, two sources familiar with the matter said. Jefferies has been working with GQG for years and understands its investment style, one of the sources added.
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