KUALA LUMPUR (Dec 16): National sovereign wealth fund Khazanah Nasional Bhd has invested 340 crore Indian Rupee (about RM187.46 million) to acquire part of a stake held by private equity fund India Alternatives (IA) in TransUnion CIBIL Ltd (TUCIBIL) in India, according to several Indian news sites.

TransUnion CIBIL began operations in 2000 and is India's leading credit information bureau. Its offerings range from basic credit scoring to high-end predictive analysis. IA invested in TUCIBIL in 2015.

Khazanah's investment, according to entrepreneur.com, affirmed the fund's continued interest in investing in the banking, financial services, insurance and technology sectors in India. Some of their other notable current and past investments in India in those spaces include IDFC, L&T Finance and Fractal.

However, IA did not disclose the size of the stake it sold in TUCIBIL, which is majority owned by Transunion, an American player in the same field.

"Rapid digitization, the advent of new technology, and a clear shift in consumer behaviour augur well for steady credit growth in India. TUCIBIL continues to be the preferred bureau for credit information and has been a valuable partner to India Alternatives,” IA founder and chief executive officer Shivani Bhasin Sachdeva was quoted as saying in the report.

She also said TUCIBIL has established itself as a one-stop provider of holistic credit information solutions to lenders, hence the company is poised to take advantage of the continued upswing in credit.

“Given the company’s stellar past performance, resilient business model and exemplary management, we are retaining a stake in TUCIBIL to be a part of this exciting journey forward,” she added.