The Carlyle Group, Ares and General Atlantic failed to invest $550m in PNB Housing Finance.

Investment firms The Carlyle Group, Ares and General Atlantic failed to invest $550m in PNB Housing Finance, one of the largest housing finance companies in India. "This fund raise, and Carlyle’s continued support, puts us in a strong position to benefit from the growing opportunities in the housing finance sector including in the affordable housing loans and self-employed segments, where we have developed differentiated capabilities in terms of distribution, underwriting and customer service. The current fund raise and planned strengthening of the Board and management team will enable us to accelerate our strategic priorities, including further expanding our footprint, driving the Company’s digitalization, improving our operating model and customer engagement," Hardayal Prasad, PNB Housing Finance Managing Director and CEO.