Blackstone, a private equity firm, completed the acquisition of 70% stake in Aadhar Housing Finance, a housing finance company. “Aadhar has the strongest origination capability in the sector with 316 branches. Our primary capital infusion of INR8km will double the company’s Net Worth and reduce its Debt to Equity ratio by roughly half. We expect the rating agencies and company’s lenders to welcome the ownership transition to a long term, well capitalized and patient investor in Blackstone. We are proud to support the Government’s ‘Housing for All’ mission and provide capital and much needed confidence to the HFC/NBFC sector. Finally, we want to thank the current owners for building a great company with a strong management team and robust credit underwriting process. We plan to take the baton forward, back the management team, and fulfill their ambition of becoming the #1 company in the sector on all dimensions,” Amit Dixit, Blackstone Head of India Private Equity and Senior Managing Director.