CVC Capital completed the acquisition of a 26.47% stake in Aavas Financiers from Kedaara Capital and Partners Group for $408m.

CVC Capital, a private equity and investment advisory firm, completed the acquisition of a 26.47% stake in Aavas Financiers, a housing finance company known for providing home loans in the rural and semi-urban locations of India, from Kedaara Capital, an operationally oriented private equity firm pursuing control and minority investment opportunities in India, and Partners Group, a Swiss-based global private equity firm, for $408m. "Aavas has demonstrated industry-leading asset quality combined with strong growth in the large affordable housing finance market in India. We are proud to have built an institution with a long-term mindset, which is creating a real impact on the ground by helping customers achieve their aspirations. It has been a pleasure working with Aavas on its journey so far and we wish the team all the very best for the years ahead," Manas Tandon, Partners Group Partner, Head Private Equity Goods & Products.