Announced
Completed
Financials
Sources
Tags
Majority
Consumer Lending
Friendly
Single Bidder
Acquisition
housing finance
Private Equity
neobank
Private
India
Cross Border
Completed
Synopsis
TPG Capital, an American investment company, completed the acquisition of the housing finance unit of Poonawalla Fincorp, a Pune-based non-banking financial company, for $473m. “This acquisition represents TPG’s first majority investment in the affordable housing finance sector in India. As a leading player, PHFL is uniquely positioned to tap into an under-penetrated market that is expected to grow at a much faster pace than the overall housing finance industry. PHFL’s growth strategy is ideally positioned to address that growing need. The Company has a deeply experienced management team, and we look forward to partnering with them in its next growth phase,” Puneet Bhatia, TPG Capital Asia Co-Managing Partner.
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