The Carlyle Group Acquires Stake in SBI Life

Global investment firm The Carlyle Group has announced it has acquired a 9% stake in SBI Life, a private life insurance company in India. SBI Life is the life insurance subsidiary of the State Bank of India. Carlyle’s equity for this investment came from CA Emerald Investments, an affiliated entity of Carlyle Asia Partners V, Carlyle’s flagship $6.55b fund focused on buyout and strategic investments across a range of sectors in Asia Pacific.

Following this transaction, BNP Paribas Cardif and CA Emerald Investments now own 12.8% and 9.0% of the company, respectively, while SBI remains the majority shareholder with a 62.1% stake in the company.

Carlyle has invested in the financial services industry in Asia Pacific for 20 years, deploying more than US$4 billion of equity in more than 15 private equity investments as of December 31, 2018. In India, Carlyle’s recent investments in financial services include PNB Housing Finance Limited and SBI Card.