According to reports, the single family office of Indian billionaire Rana Kapoor wants to sell its mortgage business. The family office is negotiating a possible sale with Nomura Holdings, a Japanese finance company. The Kapoor single family office also got in touch with other possible buyers.
The liquidity crisis in India’s credit market is causing emergency sales
In 2018, Infrastructure Leasing & Financial Services (IL&FS) reported troubles with paying back loans. This caused a major crisis in India’s private credit market: borrowers are getting more prudent and liquidity is lacking. Mortgage and other credit companies have to either look for strong financial partners or sell their companies. On the other side of the trades, private equity firms like Blackstone or the Jhunjhunwala are buying those distressed assets for discounted prices. Now also the Kapoor family wants to get rid off its credit business. Nomura might be a suitable buyer.
Kapoor Single Family Office in negotiations
The Kapoor SFO is called “Three Sisters: Institutional Office”. It was founded by Kapoor’s daughter Radha in 2013. It is run by the three Kapoor daughters Radha, Rana and Roshini. Kapoor earned his wealth through Yes Bank, which he founded in 2003. Meanwhile, Yes Bank is a major Indian financial company with more than $3.7B in revenues. The sister-led single family office is an active investor. Besides the mortgage unit, the company also invests in startups like Awfis Space Solutions. The family office is also targeting education, tourism, family enetertainment and agri-culture investments. Now, the Indian SFO has to face a serious challenge through the upcoming sale of its credit business.
Picture source: Tom Rumble
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