CVC Is Said to Eye Avendus Stake After Mizuho Talk Falters

CVC Capital Partners Plc has entered the race to acquire KKR & Co.’s majority stake in Avendus Capital Pvt. after Mizuho Financial Group Inc.’s attempts to buy out the Mumbai-based company stalled, according to people familiar with the matter.

The Luxembourg-based alternative asset manager is assessing Avendus’s operations and financials, and deal talks are at an early stage, the people said, requesting anonymity as the information is private. CVC could still walk away, while KKR — which owns about 63% of the company — may consider other suitors, including Mizuho, they said.

A sale would mark one of ...