The Carlyle Group Commits US$27.7 million of Growth Capital Into Repco Home Finance Limited

Mumbai, India - Global private equity firm The Carlyle Group has committed US$27.7 million in Repco Home Finance Limited, a Chennai-based housing finance company focusing on Southern India. The funds will be used to improve Repco's equity base, thereby allowing it to expand its loan portfolio. The investment will come from Carlyle Asia Growth Partners III, a US$680 million fund that invests in high growth companies in India, China, Japan and Korea.

Repco, a subsidiary of Repatriates Co-operative Finance & Development Bank Ltd, has been in the housing finance business since 2000, and has grown at a CAGR of 77% over the last five years. Repco provides loans to its customers for construction or purchase of residential plots and houses, repairs and renovations of existing houses, and other construction and commercial loans. The company has a network of 26 branches across Tamil Nadu, Andhra Pradesh, Karnataka and Pondicherry and is looking to aggressively expand its branch network and loan portfolio. The company is managed by a team of professionals with extensive banking and financial services experience.

Mr. Shankar Narayanan, Managing Director and Head of Carlyle Growth Capital team in India, said, “Indians place a high importance on home ownership. Repco’s business model is focused on fulfilling this basic need in a customer-friendly and transparent manner. Repco is a good example of a company that has built a strong business in a short time span. Carlyle's network of relationships may act as a catalyst in Repco’s evolution into a top player in the housing finance market.”

Mr. M. Balasubramanian, Managing Director of Repco, said, “Over the last seven years we have firmly established Repco as a lender of choice in our chosen markets. I am proud of the growth and financial performance that the company has delivered in this period. It gives me immense pleasure to join hands with Carlyle. We hope to leverage Carlyle’s global relationships and broad-based experience to develop Repco into a front-runner in the Indian housing finance industry.”

Mr. Wayne Tsou, Managing Director and Head of Carlyle Asia Growth Capital group, said, “Repco has carved out a strong niche for itself in a rapidly growing, yet competitive market. Under Mr. Balasubramanian’s leadership, Repco is well poised to develop into a strong player in housing finance.”

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About Repco Home Finance Limited
Repco Home Finance Limited is a housing finance company headquartered in Chennai. The Company is a subsidiary of Repatriates Co-operative Finance & Development Bank Limited, a Government of India Enterprise. Repco provides loans to its customers for construction or purchase of a residential house, for purchase of residential plots, for repairs and renovations of existing house, for additional construction and commercial loans. The Company has a network of 26 branches across Tamil Nadu, Andhra Pradesh, Karnataka and Pondicherry.

Repco was established in 2000 for the purpose of providing housing finance. For more information, please visit www.repcohome.com.

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