One of the top investors in Adani Group launched an on-market share buyback to protect its share price against the contagion from a U.S. investigation into the Indian conglomerate.

Rajiv Jain’s GQG Partners Inc., one of the biggest investors in units of Adani Group, said it will buy back its own shares after they plunged on concern over the money manager’s exposure to the embattled Indian conglomerate.

Rajiv Jain and CEO Tim Carver, who collectively have over $1 billion invested in GQG strategies, are deeply entangled in the fallout