Bain Capital steps on the gas with third India deal this year - VCCircle

US private equity firm Bain Capital has acquired a 90% stake in Adani Capital and Adani Housing, buying out the Adani family's private investments in the company. Adani Capital's Managing Director and CEO, Gaurav Gupta, will retain a 10% ownership. Bain Capital has committed $120 million in primary capital and is infusing $50 million in debt capital. The transaction is expected to close in Q4 2021, pending regulatory and market approvals. Adani Group aims to deleverage its debt, while Adani Capital plans to expand its lending operations and go public by 2024.

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