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Global investment firm KKR said on Monday that Abu Dhabi Investment Authority has become a minority shareholder in KKR India Financial Services. The companies did not disclose details of the transaction.
"India continues to be an underserved financial services market, with shallow capital markets and an over-reliance on banks for wholesale financing. ADIA's investment in KIFS gives us a high-caliber partner to work alongside as we further scale our platform and deliver creative solutions in the market," said BV Krishnan, Member at KKR and CEO of KIFS, in a press release.
Hamad Shahwan AlDhaheri, Executive Director of the Private Equities Department at ADIA, said: "India is one of the world's fastest growing and most dynamic markets, and Indian businesses are increasingly seeking alternative credit solutions. KIFS has played an integral role in the development of this important form of financing in India and, through our investment in the company, we look forward to supporting the continued evolution of the market. Becoming a shareholder in KIFS is also consistent with ADIA's approach of seeking principal investments in market-leading businesses alongside strong and high-quality partners."
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