Private equity advisory firm Jacob Ballas Capital India and New York Life Investment Management (NYLIM) have agreed to acquire a minority stake in CentrumDirect, the foreign exchange business unit of Bombay Stock Exchange-listed financial services company Centrum Capital. The firms will reportedly invest US$50 million for a 30 percent stake in the company, with NYLIM committing US$20 million to the transaction. The investment, which is subject to regulatory approval, will be made through NYLIM Jacob Ballas India Holdings IV.