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TPG to acquire Poonawalla Housing Finance in $417m deal

Global alternative asset manager TPG Capital is to acquire India-based Poonawalla Fincorp Limited’s subsidiary Poonawalla Housing Finance (PHFL) for a pre-money equity valuation of $471 million, according to a report by Sovereign Wealth Fund Institute.

Global alternative asset manager TPG Capital is to acquire India-based Poonawalla Fincorp Limited’s subsidiary Poonawalla Housing Finance (PHFL) for a pre-money equity valuation of $471 million, according to a report by Sovereign Wealth Fund Institute.

TPG is making the acquisition through TPG Capital Asia, its Asia-focused private equity platform, subject to regulatory approvals and other customary conditions. 

PHFL is a pan-India specialist in the affordable housing finance segment with 153 branches across 20 states in India. As of September 2022, PHFL’s AUM of over INR56 billion comprised affordable home loans (64%) and loans against property (36%) with an average ticket size of ~INR 1 million, to self-employed and salaried borrowers.

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