India: True North in advanced talks to buy stake in Home First Finance

Home-grown private equity firm True North is in advanced talks to acquire a majority stake in Mumbai-based private housing finance company Home First Finance Co. India Pvt. Ltd (HFFC) for around $100 million, the companies said in a statement.

Home First Finance, which has raised capital from Bessemer Venture Partners and Tata Capital Growth Fund in earlier rounds, has been in discussions to raise at least $50 million (around Rs300 crore) from several investors including private equity fund Morgan Stanley Private Equity, Mint reported in October.

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