India’s largest bank has bought US hedge funds, raising a fresh headache for US-based brokerage thinkorswa.

Key points: The bank is part of a consortium of five banks which has invested in the hedge fund Thinkorswan The group of five bank have already put up $10 billion in the fund, which has a portfolio of more than $2.5 trillionAccording to an announcement on Tuesday, the bank will take a 15% stake in the company.

“We are pleased to welcome the investment of $10bn by Thinkorswan, a new member of our portfolio. 

The investment is in line with our objectives and we will further strengthen our relationship with the group, and we look forward to deepening our investment in their business over the next few years,” said Ajay Gopalan, chairman and managing director, thinkorsaw.

The new company will be managed by a team of eight people who are “well qualified, experienced and well-placed to help the company in the years to come,” according to a statement.

The group include Tata Sons, State Bank of India, HDFC Bank, ICICI Bank, and ICICICI Securities.

Tata Sons will continue to manage the company, while ICICC Securities is the company’s holding company.

The investment comes a day after Tata Sons said it would buy $1.8 billion worth of the hedge funds.

“Tata’s investment is a significant milestone for our growth strategy.

The new investment will add significantly to the firm’s capital structure, with the ability to expand and scale our business over time,” said Tata Sons chairman N.S. Mittal.”

With this investment, we aim to strengthen our portfolio of leading asset management services and to invest in our clients’ business,” he added.

Tatas Sons has invested more than a billion dollars in hedge funds in India, according to its statement.

Last month, the group also agreed to buy the private equity firm Cerberus Capital Management for $1 billion.

Last week, the company announced it had acquired a $300 million stake in Indian online retailer Flipkart for $500 million.