Carlyle exits India’s Repco Home Finance; raises $78 mln-Reuters

(Reuters) – The Carlyle Group LP raised about $78 million by selling its entire holding in India’s Repco Home Finance Ltd, 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.