BNP Paribas sells 9.2% stake in SBI Life Insurance for Rs 4,751 crore

CA Emerald Investments is Carlyle's flagship $6.55 bn fund focused on buyout and strategic investments across a range of sectors in Asia Pacific; this is its first investment in India

BNP Paribas Cardif, the joint venture partner in SBI Life Insurance, has sold 9.2 per cent of its stake in the private life insurance company for Rs 4,751 crore. This is one of the largest insurance deals in the country since 2016, when the first insurance company got listed.

Of the 9.2 per cent stake sold by BNP Paribas Cardif SA, CA Emerald Investments, a part of investment firm Carlyle Group, acquired a 9 per cent stake in SBI Life Insurance in the open market through stock exchanges. The equity for this investment of the Carlyle Group came from CA