TPG Capital completed the acquisition of the housing finance unit of Poonawalla Fincorp for $473m.

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.