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Report: L&T Finance Holdings in talks to sell private equity portfolio

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Report: L&T Finance Holdings in talks to sell private equity portfolio

L&T Finance Holdings is looking to find a buyer for itsprivate equity portfolio to consolidate its business segments, The Economic Times reported Sept. 27, citing "multiple sourcesbriefed on the matter."

The company is in talks with NewQuest Capital Partners, BainCapital LLC and Canada Pension Plan Investment Board, with NewQuest Capitalseen as the preferred buyer of the portfolio.

The company has nearly 10 billion Indian rupees worth ofexposure in private equity and structures infrastructure and real estatebusinesses.

L&T Finance and Bain Capital declined to comment, CPPIBand NewQuest Capital did not respond to TheEconomic Times' emails seeking comments.

L&T Finance is the parent company of L&T Finance Ltd.

As of Sept. 26, US$1was equivalent to 66.59 Indian rupees.