Carlyle taps banks, funds for $3billion Mphasis Buy

Mumbai: Private equity major Carlyle has tapped a clutch of banks and one pension fund to finance its bid to acquire the Blackstone-owned Mphasis Ltd as it emerges as a probable frontrunner to buy the Indian IT services company in what could be the largest buyout in the sector, said people in the know.

Carlyle is negotiating with Deutsche Bank, Barclays, Standard Chartered Bank, Nomura, and Canada Pension Plan Investment Board (CPPIB) for buyout financing. JP Morgan, which is advising the fund, may also join the consortium. While an arm of the Canadian pension fund is likely to offer mezzanine debt, others are likely to come on board as senior lenders.