Carlyle set up in India in 2000 and is the longest standing global private equity firm in the country. Its India investments include SBI Card, SBI Life, Delhivery and Metropolis, with a strong focus on financial services.
Ownership and structure
Carlyle advises on Indian deals through Carlyle India Advisors Private Limited, incorporated in Mumbai in 2000, while investments are held by its Asia buyout funds such as Carlyle Asia Partners.
What India does for The Carlyle Group
India is a key private equity market for Carlyle, with a large share of its capital in financial services companies such as SBI Card and SBI Life.
Investment and deals
Carlyle had invested about US$2.5 billion in India as of December 2019, more than US$1.5 billion of it in eight financial services companies. In 2025 it was raising a US$300 million India side fund.
The Carlyle Group's India business
Carlyle established its India presence in 2000. It had invested about $2.5 billion in India as of December 2019.
More than $1.5 billion of its India equity went into eight financial services companies, including SBI Card and SBI Life. In 2025 Carlyle was raising a $300 million India side fund, with IFC proposing up to $60 million.
Key moves in India
- 2000: Established its India presence.
- 2017: Acquired a 26 percent stake in SBI Card from GE Capital in December.
- 2019: Its cumulative India investment reached about US$2.5 billion.
- 2020: Sold about 10 percent of SBI Card in its initial public offering, keeping a 16 percent stake.
- 2025: Began raising a US$300 million India side fund, with IFC proposing up to US$60 million.
Where it operates
The Carlyle Group runs its India business from Mumbai.
At a glance
- Home country: United States
- Global headquarters: Washington, D.C.
- Sector: Private Equity & Investments
- Business: Private equity
- Role of India: Investment portfolio
- India entity: Carlyle India Advisors Private Limited
- India head office: Mumbai
- India offices: Mumbai
- India headcount: Not available
- In India since: 2000
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