International Finance Corporation (IFC), private investment arm of the World Bank, has proposed to make a debt investment of up to $75 million (around Rs 574 crore) in Aadhar Housing Finance Ltd, a portfolio company of US-based private equity major Blackstone Group.
IFC’s investment in Aadhar comes a couple of days after it announced commitment of at least $35 million (around Rs 268 crore) in homegrown Motilal Oswal Private Equity’s (MOPE) fourth fund, which increased its size to over $588 million (Rs 4,500 crore), from earlier $500 million (Rs 4,000 crore).
Set up in 2010, Aadhar is the largest housing finance company (HFC) focused on the low-income housing segment in India in terms of assets under management (AUM) of approximately $1.9 billion (around Rs 14,550 crore) as of March 31, 2021.
Read more: VCCircle
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