Blackstone commits $2.8 bn for majority stake in Mphasis

Global private equity major Blackstone on Monday said it will transfer its entire majority shareholding in Mphasis Ltd from its existing fund to two new funds after dropping plans to sell its stake to a third party. The move will help Blackstone, which owns 56% of the IT services company, hold on to the stake for a longer period, and seek exit opportunities at a later time.

The PE firm said its 104.79 million shares in Mphasis, held by Blackstone Capital Partners VI fund (BCP VI), will be bought by Blackstone Capital Partners VIII and Blackstone Capital Partners Asia funds (BCP VIII and BCP Asia).