Toscafund completed the acquisition of a minority stake in Oaknorth from Indiabulls Housing Finance for $85m.

Toscafund Asset Management, a London based investment firm, completed the acquisition of a minority stake in Oaknorth Bank, a UK bank for small and medium-sized companies, from Indiabulls Housing Finance, an Indian conglomerate, for $85m. The sale proceeds will be accretive to the regulatory net worth and the capital-to-risk weighted assets ratio of Indiabulls Housing Finance.