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Report: UK-based CDC Group invests in IDFC's private equity fund

The U.K.'s CDC Group PLC is investing in the third private equity fund managed by IDFC Ltd. unit IDFC Alternatives Ltd., Mint reported, citing people aware of the development.

With CDC Group coming in as an investor, some existing limited partners were given the option to exit the fund, one of the sources said.

The financial details of the transaction were not revealed but CDC Group acquired the portfolio at a "minor" discount to market value, one source said.

Spokespersons for IDFC and CDC Group declined to comment.