The Hindu Business Line : Chola looks for foreign partner

CHOLAMANDALAM AMC is scouting for a foreign partner to divest a part of its equity capital. Multinational fund manager, Cazenov, which had partnered the company earlier, exited the joint venture some time last year.

The AMC, which manages the Rs 900-crore Cholamandalam Mutual Fund, is currently 100 per cent owned by the Murugappa group, according to Mr Anandan.

The company is also looking for a new chief executive officer as the previous CEO has left the company to join Tata Mutual Fund. The new chief is likely to be chosen within a month, Mr Anandan said.

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