The Globe and Mail reported that a unit of Wafra Capital Partners (WCP), owned by the Kuwait Investment Authority, has bought Goldman Sachs’ Finanset, a consumer finance and financial technology solutions company.
It quoted an informed source as saying that the value of the deal ranges between 350 and 500 million dollars, and the number of employees of the Toronto-based company is 250 people, reports Al-Rai daily.
“The Wafra Capital Partners unit will help the Canadian company grow, as Wafra typically allows portfolio companies to use their balance sheet in addition to equity investments,” said Michael Garrity, founder of Finanset.
For his part, Michael Guntar, Chief Investment Officer, Wafra Capital Partners, said: “We are confident that our capital and strategic vision will lead to further progress, allowing (Finance) to reach a new and ambitious stage in the coming years.”
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