Carlyle offers to buy Japan mortgage bank SBI in $420m deal

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mortgage_lrgUS alternative assets giant The Carlyle Group has offered to buy Japanese mortgage bank SBI Mortgage in a deal which values the business at about $423m.

SBI provides origination, servicing and securitisation of long-term fixed-rate mortgage loans.

The company’s loan origination volume increased from more than JPY300bn ($2.9bn) in April 2007 to over JPY900bn in March 2011, and stood at more than JPY2tn in May last year.

Carlyle’s latest Japan deal comes just a week after it bought health and nutrition (H&N) and pharmaceutical products maker Sunsho Pharmaceutical.

Nasdaq-listed Carlyle sold its remaining 3.7 per cent stake in Indian mortgage lender Housing Development Finance Corp for $841m in 2012.

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