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Creador picks up 9.9% Repco Home Finance stake

8 Feb 2013

home-service-2_sqAsia-focused private equity firm Creador has sealed its second deal in two weeks by picking up a 9.9 per cent stake in Repco Home Finance for INR730m ($13.7m).

The Chennai-based business provides home loans for rural locations and had a portfolio of more than $588m at the end of September 2012.

Creador’s latest deal follows its purchase of the Indonesian food business of Indian consumer goods company Godrej Consumer Products at the end of January.

As part of that deal the subsidiary will continue to distribute Godrej’s brands for the next two years.

Creador, which was launched by former ChrysCapital managing director Brahmal Vasudevan, hit a $132m final close for its debut fund last month.

The commitments fell short of the $350m the firm had initially hoped to collect, highlighting the difficulties both new and repeat fundraisers are experiencing in the current economic climate.

Altassets revealed in November the firm was nearing a close for the vehicle, which it plans to use for investments in growth-oriented businesses in Indonesia, Malaysia and India.

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