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Barings Private Equity Asia Lead Suitor For Acquiring Healthcare Arm Of Hinduja Global Solutions

The Indian portfolio of Barings Private Equity Asia includes firms like Hexaware, Virtusa, Citius Tech, Coforge ( formerly called NIIT Technologies), CMS, AGS Health and RBS Bank. Reports indicate the PE firm has put delisted IT firm Hexaware on the block for $2.5 to $3 billion.

May 27, 2021 / 08:35 PM IST

Diversified conglomerate Hinduja Group’s plans to unlock value in its BPO arm Hinduja Global Solutions with the sale of a carved out business vertical have reached an advanced stage, people familiar with the matter told Moneycontrol.

“Currently, Barings Private Equity Asia has emerged as the lead contender to acquire the demerged healthcare vertical of Hinduja Global Solutions. The PE fund is a formidable player in the technology segment,” said one of the persons cited above.

A second person said they (Barings Private Equity Asia) have completed a major portion of the due diligence and have an edge over other suitors in terms of valuations and are also keen on buying out 100 percent stake in the Hinduja unit.

On December 8, 2020, Moneycontrol was the first to report that Hinduja Global Solutions had appointed investment bank Barclays as advisors and was looking to hive off its cash-rich healthcare vertical and raise funds by selling stake to private equity investors. The vertical is performing well and has global presence and hence Hinduja Global Solutions was keen to encash it and focus on other businesses, the report had added.