Blackstone, Carlyle Mull Stakes in Prized Indian Cricket Teams

Blackstone Inc. and Carlyle Group Inc. are jostling with billionaires in India to buy stakes in teams in the country’s most successful professional cricket league, betting on the surging popularity of the sport in one of the fastest-growing economies.

The two alternative investment managers are exploring acquiring a stake in the lucrative Indian Premier League’s teams, Royal Challengers Bengaluru and Rajasthan Royals, according to people familiar with the matter. The discussions are at a very early stage and neither of the firms have submitted bids, said the people, who asked to not be identified because the information is confidential.

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