Warburg Pincus invests in India's CAMS

According to a stock exchange filing, Warburg Pincus acquired a 6.3% stake in CAMS held by Housing Development Finance Corporation (HDFC) for INR2.1 billion ($32.7 million), and paid an undisclosed amount for an additional stake held by HDFC Bank. The deal values CAMS at INR33.25 billion.

CAMS is a mutual fund registrar and transfer agent that offers a physical touchpoint to retail investors for receipt, verification and processing of financial and non-financial transactions through a network of service centers, in addition to call centers and online services. The company also provides back-end services to mutual fund houses related to subscription, redemption, transfers and dividends.

Currently CAMS has more than 6,000 employees and over 265 service centers across India. For the year ended March 2017 the company reported consolidated operating revenue of INR4.8 billion, up from INR4 billion the year before.

Warburg Pincus is investing its latest global fund, which closed at $12 billion in 2015 and focuses on businesses in a variety of sectors including energy, financial services, healthcare and consumer, industrial and business services, and technology, media and telecom. The firm recently closed a $2.3 billion fund focused on financial services that will invest alongside the main vehicle.

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• Topics
• South Asia
• Financials
• Technology
• Expansion
• India
• Warburg Pincus Asia
• TMT
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