Creador in Repco Home Finance withdrawal
The growth of India's non-banking finance companies (NBFCs) - institutions that offer banking services without meeting the definition of a bank - is well-documented. According to the Reserve Bank of India (RBI), the share of NBFC's assets as a proportion of national GDP rose from 8.4% to 12.5% between 2006 and 2013. This segment of financial services is now almost as large as the banking sector in terms of assets. It was three-quarters the size seven years ago.
Accordingly, private equity has long been tapping NBFCs as a proxy for India's growing middle class and rising consumer spending. Last week Creador became the latest GP to reap returns from the segment....
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