The Blackstone Group is shedding its Indian $1.22 billion closed-end mutual fund scheme India Fund, Business Standard reports. Aberdeen Asset Management Asia will take over management of the fund, subject to stockholders’ assent due November 16. Punita Kumar-Sinha, senior managing director, who is responsible for the fund, will quit Blackstone. The firm is also selling Asia Tigers Fund, worth $60 million, to Aberdeen.
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