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GIC teams up with Bain Capital for $1bn Genpact stake buy

30 Oct 2012

Singapore sovereign wealth investor GIC has joined US private equity firm Bain Capital to buy a 30 per cent stake in outsourcing company Genpact.

GIC will invest $150m according to a regulatory filing, with Bain providing the remaining $849m to purchase the stake from buyout houses General Atlantic and Oak Hill Capital.

GA and Oak Hill first picked up 60 per cent of the India-headquartered company when it was still known as GE Capital International Services in 2004.

The pair paid $500m and later divested some of their stake during the company’s 2007 IPO.

GIC and Bain’s deal values the business at about $3.3bn, and represents 68 million common shares bought at $14.76 each.

Bain Capital employees Amit Chandra, David Humphrey, Mark Nunnelly and Mark Verdi will all join the business to replace current directors from GA and Oak Hill Capital following the deal.

The firm first announced it had agreed a deal for the business at the beginning of August.

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