General Atlantic had acquired a 21.6% stake in IIFL Wealth in October 2015 for Rs 1122 crore. Led by India-born Prem Watsa, Fairfax first invested in IIFL in 2011 when it acquired a 9% stake through Hamblin Watsa Investment Counsel Fund. The fund currently has around 13.6 percent in IIFL Wealth.
