GA MAY SELL MU SIGMA STAKE TO CARLYLE, KKR

MUMBAI: Private equity firm General Atlantic (GA) is in talks to sell its entire 20% stake in data analytics company Mu Sigma, according to two people directly aware of the discussions.

GA is in separate discussions with Carlyle and KKR to sell the stake it had acquired in Mu Sigma in 2011, the people cited above said seeking anonymity.

The stake is expected to be valued at at least $200 million, given that Mu Sigma entered the unicorn club when Mastercard invested $45 million in 2013.

“GA has been looking to sell its stake in Mu Sigma for a while now and discussions have gained momentum in recent months,” said one of the two people cited above, requesting anonymity.

“Talks are currently bilateral and GA is yet to start a formal process,” said the second person. The private equity firm may hire an adviser to reach out to other suitors if talks with KKR and Carlyle fail, he added.

This is not the first time GA has explored exiting Mu Sigma. In 2016, it held similar discussions with Canadian pension fund CDPQ. In August, The Times of India reported that private equity firm TPG was in talks to pick up a stake in the company at a valuation of $1.2 billion. Spokespersons for GA and Carlyle declined to comment, while an email sent to KKR and Mu Sigma founder Dhiraj Rajaram was not answered till press time.