The fund is expected to generate $800-million worth future co-investment opportunities.
Rest of Asia
The other bidders include South Korea's SK Networks and a local consortium of China's Haier.
The deal marks Blackrock's first private market transaction in India, as well as its first bet on an Indian startup.
Of the total amount, as much as $100 million will be invested in PAG's second real estate vehicle.
The vehicle is Warburg Pincus' first fund with a dedicated focus on Southeast Asia.
BalleBaazi.com boasts of around 3 million users on its platform.
Navis Capital had bought a stake in HFH in 2016 from Australia's Indochina Medical.
Falcon House currently holds a 35 per cent stake in Potato Head.
Joining the third equity financing for Son Kim Land is Skymont Capital.
KKR will also acquire Campbell International's manufacturing operations in Australia, Indonesia and Malaysia.
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