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Baring and ChrysCapital Acquire Majority Stake in HDFC’s Education Financing Arm

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Baring and ChrysCapital have agreed to buy 90% of HDFC Credila Financial Services for $1.11bn, the largest private equity buyout in India's financial sector. The lenders believe the education finance arm can tap into a growing appetite for studying abroad among India's middle class, with students expected to spend $75-80bn on foreign education by 2024.

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