Baring Asia set to accept $3 billion Carlyle offer for Hexaware

  • Private equity giant Baring Asia, which owns the software firm Hexaware Technologies, is set to pick the $3 billion offer from the Carlyle Group for the city-based company, according to a person with direct knowledge of the matter.
  • The Carlyle Group – the Washington-based multinational private equity, alternative asset management and financial services giant with over $260 billion in assets under management and specialising in private equity, real assets, and private credit – is set to pip bulge-bracket private equity giants such as Bain Capital, KKR & Co and the Paris-based outsourcer Teleperformance and is most likely to be the winner with around $3 billion bid.
  • The deal with the Hong Kong-based Baring Private Equity Asia involved the promoters Atul Nishar and GA Global Investments selling their 41.8 per cent stake for Rs 1,687 crore and then the PE fund making make an open offer to pick up 26 per cent stake at Rs 135 per share or worth Rs 1,058 crore, making it the largest investment by Baring in the country.
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