$230mn deal: Partners Group to acquire 75% of Infinity Fincorp
Mumbai: Swiss private equity firm Partners Group is set to acquire True North's controlling stake in
Infinity
Fincorp Solutions, a Mumbai-based non-banking financial company (NBFC), outbidding rivals Advent International and Creador, said people familiar with the matter.
Partners Group will be buying 65% stake in Infinity, which offers
micro loans against property
, from Mumbai-based PE firm True North, the people said, adding it would also make a small primary capital infusion into the company.
Upon completion of the deal, Partners is expected to own a total 70-75% of the shadow lender for about $230 million, the people said. Partners has signed an exclusivity agreement with True North and is expected to sign the shareholder agreement in the next few days, the people said. The transaction will also give a monetisation route to Infinity's angel investors.
Founded in 2016 as a unit of National Bulk Handling Corporation with seed funding from Indium IV Holdings-a fund advised by True North, Infinity provides secured loans to micro, small and medium enterprises (MSMEs) in underserved Tier 2 and Tier 3 cities.
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