Investment Summary

The Carlyle Group, CDIB Capital Group and True North Co. Invest In HDFC Bank

On May 26, 2007, private equity firms The Carlyle Group, CDIB Capital Group and True North Co. invested in financial services company HDFC Bank

Investment Highlights
  • This is The Carlyle Group’s 9th, CDIB Capital Group’s 1st and True North Co.’s 2nd transaction in the Financial Services sector.
  • This is The Carlyle Group’s 11th, CDIB Capital Group’s 1st and True North Co.’s 14th transaction in India.
Investment Fate
  • HDFC Bank was sold to a consortium of financial buyers in 2020.

Investment Summary

Date 2007-05-26
Target HDFC Bank
Sector Financial Services
Investor(s) The Carlyle Group
CDIB Capital Group
True North Co.
Deal Type Stake Purchase

Target

HDFC Bank

Mumbai, India
HDFC Bank is a private sector banks. HDFC Bank offers a wide range of commercial and transactional banking services and treasury products to wholesale and retail customers. HDFC Bank was founded in 1994 and is based in Mumbai, Maharashtra.

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Investor(S) 3

Investor

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 279 of 750
Sector: Financial Services M&A 9 of 48
Type: Stake Purchase M&A Deals 17 of 73
Country: India M&A 11 of 34
Year: 2007 M&A 19 of 52
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-23 Sanitors

San Antonio, Texas, United States

Sanitors, Inc. is a provider of janitorial and landscape services to the commercial market in the United States. Janitorial services include floor cleaning and finishing, wall and window washing, furniture polishing, rug cleaning, dusting, and refuse collection. Landscape services include design and build, general maintenance, irrigation installation and management, and lawn and tree care.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-01 Xtep International Holdings

Xiamen, China

Xtep International Holdings is a manufacturer and distributor of sporting shoes and clothing. Xtep International Holdings was founded in 1987 and is based in Xiamen, China.

Buy -
Investor

CDIB Capital Group

Hong Kong, China

Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 2.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

CDIB Capital International Corp. is the overseas investment arm of China Development Financial. CDIB makes direct investments in Asian private equity, private debt and special situations opportunities. The Firm's private equity group looks to invest $20 to $75 million in companies serving large markets, with proven management focused on 'sustainable growth' and profitability. CDIB primarily makes growth investments, but will also consider middle-market buyouts, recapitalizations, corporate divestitures, and mid-to-late stage venture capital transactions. CDIB is based in Hong Kong with additional offices in Taipei, Shanghai, Seoul and San Francisco.


DEAL STATS #
Overall 5 of 21
Sector: Financial Services M&A 1 of 2
Type: Stake Purchase M&A Deals 2 of 5
Country: India M&A 1 of 3
Year: 2007 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 ORG Technology Co.

Beijing, China

ORG Technology Co. is an integrated packaging comprehensive solution provider concentrating on brand planning, packaging design, and metal packaging manufacturing, beverage filling services, and multi-informational auxiliary marketing services. ORG Technology Co. was founded in 1994 and is based in Beijing, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-03 Coates Hire

Mascot, Australia

Coates Hire is Australia’s largest equipment hire company with 120 years of experience, supplying to a wide variety of markets including Engineering Civil Construction, Building Construction and Maintenance, Mining and Resources, Manufacturing, Government, Industrial Shutdowns and Events.

Buy $2.2B
Investor

True North Co.

Mumbai, India

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

True North Co. is a private equity firm focused on making investments in growing middle-market companies operating in India. The Firm looks to invest a minimum of $50 million per transaction. Sectors of interest include consumer, healthcare, financial services, infrastructure services, and IT. True North does not invest in start-ups or early-stage companies. True North Co. was formed in 1999 and is headquartered in Mumbai.


DEAL STATS #
Overall 14 of 43
Sector: Financial Services M&A 2 of 5
Type: Stake Purchase M&A Deals 3 of 15
Country: India M&A 14 of 37
Year: 2007 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-01 TTK Healthcare TPA Pvt.

Bengaluru, India

TTK Healthcare TPA Pvt. Ltd. is a licensed third-party healthcare administrator (TPA) based in Bengaluru, administering health insurance policies. TTK was rated amongst the top three TPAs in India. It was performing multiple activities like enrollment, pre-authorization, claims processing and adjudication and finance for health insurance companies. All claims processing worked on a distributed model to maintain high quality standard and quick response time to beneficiaries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-01 Mahindra Hinoday Industries

Pune, India

Mahindra Hinoday Industries Ltd. manufactures ductile iron castings and ferrites.

Buy -