L&T Finance looks to sell portfolio
L&T Finance Holdings, the financial services arm of engineering conglomerate Larsen & Toubro, is in talks with investors like Bain Capital LLC, Canada Pension Plan Investment Board (CPPIP) and secondary portfolio buyer NewQuest Capital Partners, as it plans to sell off its private equity portfolio to consolidate business segments.
The transaction would mostly be a secondary portfolio selloff, a decision the company had taken in May. L&T Finance has close to Rs 1,000-crore exposure in private equity and structured infrastructure and real estate businesses.
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