BENGALURU, April 9 (Reuters) - Promoters of private

lender IndusInd Bank will buy a 60% stake in the

Indian arm of global asset manager Invesco ( IVZ ), the two

companies said on Tuesday, without disclosing the deal amount.

After the deal, Invesco ( IVZ ) will keep a 40% stake in Invesco

Asset Management India (IAMI), the fifth largest foreign asset

manager with assets under management worth 853.93 billion rupees

($10.3 billion) as of March 31.

The partnership came at an "opportune time" with India's

"rising prosperity, investor confidence and favourable

demographics" offering enormous prospects, CEO of IndusInd

International Holdings Ltd (IIHL), Moses Harding, said.

Mauritius-based IIHL is a promoter entity belonging to the

Hinduja Group.

A "strong domestic partner" will increase the ability to

expand to more Indian cities and towns, which are driving

industry growth, IAMI CEO Saurabh Nanavati said.

Brokerage Jefferies expects Indian wealth managers to

benefit from the country's economic growth and financialisation

of savings into capital markets, aided by booming retail

interest over the past two years.

($1 = 83.1799 Indian rupees)