Carlyle exits India's Repco Home Finance; raises $78 mln

Repco Home Finance

17/07/2014 14:10

MUMBAI, July 17 (Reuters) - The Carlyle Group LP  CG.O  
raised about $78 million by selling its entire holding in 
India's Repco Home Finance Ltd  RHFL.NS , exchange data showed, 
making a near nine-fold return on its six-year old investment. 
    The U.S. private equity giant sold 11 million shares in the 
company at 427.50 rupees a share, NSE bulk deal data showed. 
    United States-based global investment management firms GMO, 
DSP Blackrock and Nomura India were among the buyers, data 
showed. 
    Others who bought Carlyle's stake include Jupiter India 
Fund, managed by Jupiter Asset Management Ltd, a UK-based 
investment advisory and hedge fund firm, Smallcap World Fund, 
which is managed by Capital Research and Management, and FT 
India Prima Fund. 
    Carlyle invested $27.7 million in Repco in January 2008 from 
its Asia growth fund. 
    The U.S. fund, which manages about $199 billion globally, 
made a partial exit from the company in its initial public 
offering last year. 
    An external spokesman for Carlyle declined to comment. 
($1 = 60.1800 Indian Rupees) 
 
 (Reporting by Indulal PM and Abhishek Vishnoi; Editing by 
Anupama Dwivedi) 
 ((indulal.p@thomsonreuters.com)(+91-22-6180-7183)(Reuters 
Messaging: indulal.p.thomsonreuters.com@reuters.net)) 
 
Keywords: CARLYLE GROUP REPCO/SALE