Bain Capital to Acquire 90% Stake in Adani Capital and Adani Housing Finance

Bain Capital Acquires Joint Control Stake in Manappuram Finance

March 20, 2025

Financial Services

Bain Capital has entered definitive agreements to acquire joint control of Manappuram Finance through affiliates BC Asia Investments XXV Limited and BC Asia Investments XIV Limited, investing approximately INR 4,385 crore for an 18% stake via preferential allotment and warrants. The deal will trigger a mandatory open offer for up to an additional 26% and positions Bain to support Manappuram's next phase of growth across gold loans, microfinance, vehicle and housing finance, while the existing promoters remain invested.

TPG Acquires 99.02% Stake in Poonawalla Housing Finance

July 27, 2023

Financial Services

TPG, through its Asia-focused private equity platform TPG Capital Asia, has completed the acquisition of a 99.02% equity stake in Poonawalla Housing Finance Limited from Poonawalla Fincorp Limited and will infuse up to INR 1,000 crore of additional equity to support growth. PHFL is a pan‑India affordable housing finance company with a deep branch network and ~Rs. 6,571 crore AUM (Jun'23); TPG intends to partner with existing management to scale the business in the affordable housing segment.

Bain Capital Credit Announces $2.7 Billion of Financing Investments in 2021

February 22, 2022

Financial Services

Bain Capital Credit's Private Credit Group invested $2.7 billion across more than 100 businesses in 2021, supporting refinancing, leveraged buyouts and add-on acquisition activity for middle-market and private equity-backed companies. The announcement highlights the group's role as a lead lender on many commitments and its focus on providing flexible private capital solutions to businesses with EBITDA between $10 million and $150 million.

Bain Capital Private Equity Takes Majority Stake in InnovaCare Health

November 19, 2021

Healthcare Services

Bain Capital Private Equity has signed a definitive agreement to acquire a majority stake in InnovaCare Health, a regional leader in integrated and value-based healthcare services. The investment will support InnovaCare's national expansion and accelerate growth of its physician-led, value-based care model; Summit Partners will remain an equity holder and management will retain significant ownership.

Bain Capital to Take Chindata Group Private

August 11, 2023

Infrastructure

Bain Capital signed a definitive agreement to acquire all outstanding shares of Chindata Group Holdings Ltd, taking the Asia‑Pacific hyperscale data‑center operator private at US$4.30 per ordinary share (US$8.60 per ADS). The transaction, supported by existing and new investors, values the company at roughly $3.16 billion and is intended to provide long‑term control and capital to support Chindata's continued expansion and operations across the region.

Qatar Investment Authority Acquires 25.1% Stake in Adani Electricity Mumbai Limited

December 11, 2019

Utilities

The Qatar Investment Authority (QIA) will invest approximately INR 3,200 crore (about $450 million) to acquire a 25.1% stake in Adani Electricity Mumbai Limited (AEML) and make a shareholder subordinated debt investment. The agreement, signed with Adani Transmission Limited and AEML, includes commitments to source over 30% of AEML’s supplied electricity from solar and wind by 2023 and other green initiatives to support sustainable growth.