PE firm Creador exits Repco partially

Malaysia-based private equity firm Creador has partially exited from Repco Home Finance, an India-based firm, it had invested in  2013. Creador generated a three-fold return on investment.

Creador exited Repco Home Finance through a bulk transaction on the Bombay Stock Exchange, selling 325,000 shares at INR 470 per share. The sale came up to INR 152.75 million ($2.5 million).

The exit strengthens Creador’s view on the financial services sector, which chief executive officer Brahmal Vasudevan said was an area the firm will focus more on, going forward.

Creador’s other financial services investments are Cholamandalam Investment & Finance Company, a pan-Indian composite financial services provider and BFI Finance in Indonesia.

Brahmal was quoted saying that the firm decided to exit earlier than its normal five-year cycle as Repco Home Finance was growing rapidly, making good margins.

The Chennai-based Repco Home Finance is the mortgage finance arm of Repco Bank, providing home loans to eight states and one union territory in and around southern India.

Creador had acquired 9.9% stake in Repco Home Finance from the Carlyle Group for INR 724 million ($12 million) in February last year.

The Carlyle Group, which had 49.7% in Repco Home Finance, made 3x to 4x its investment through secondary transactions.

It had sold over 23% to both Creador and Wolfensohn (which took 13%), and 2.78% to Antique Broking and Shardul Securities, raising a total of INR1.9 billion ($31 million).

After Repco Home and Finance made its initial public offering in March 2013, Carlyle made a full exit in June via the open market, for INR4.72 billion ($77 million).

Wolfensohn also made a full exit in April this year, making a 2x return.

(Edited by Yamini Dhall)

Image:Freedigitalphotos.net

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.