Marc Ladreit de Lacharrière, CEO of French financial services firm Fimalac, has picked up a 5 per cent stake in marquee global private equity firm Warburg Pincus through his family holding company Groupe Marc de Lacharrière (GML).
The financial terms of the transaction were not disclosed but the PE firm said GML would also invest in its funds as a Limited Partner.
The French billionaire has businesses spread across financial services, digital, entertainment, leisure activities, luxury hotels and real estate sectors. Fimalac was once a majority owner of Fitch Ratings. It still owns 20 per cent of the ratings firm.
“Warburg Pincus perfectly matches our objectives with respect to investing model, culture, and persistence of performance,” Ladreit de Lacharriere said.
Warburg Pincus said it will use the proceeds to invest in its funds. This would enhance alignment between the firm’s professionals and limited partners, and create additional financial flexibility for the firm, it said.
The PE firm, which has around $35 billion of assets under management globally, has been particularly active in India this year. It has committed more than $500 million worth of investments in the country since June. These include commitment to invest over Rs 850 crore in Delhi-based e-commerce focused logistics solutions provider Ecom Express Pvt Ltd and Rs 1,800 crore in its single biggest investment in the country ever in Piramal Realty.
The PE firm is also investing in Capillary Technologies Pvt Ltd, a software-as-a-service based customer relationship management solutions provider, and has announced a $250 million joint venture with real estate developer Embassy Group to build industrial parks and warehouses.
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