UAE sovereign wealth fund Abu Dhabi Investment Authority (ADIA) is in talks with Amsterdam-based EQT Baring Private Equity to acquire a 10% stake in Indian non-bank education financier HDFC Credila Financial Services, Moneycontrol.com reported.

The stake sale is likely to be part of a broader fundraising plan at Credila or a secondary transaction with EQT Baring, the financial website said, quoting an informed source.

Talks with ADIA have restarted, another source familiar with the matter confirmed.

EQT and ChrysCapital, an  India-focused investment firm, acquired 72 percent and 18 percent stake, respectively, for Rs 95.53 billion ($1.14 billion) in March 2023.

The report said ADIA was eager to join the consortium interested in Credila then.

Credila’s assets under management reached Rs 274 billion as of December 2023, the news report said.

(Editing by Seban Scaria seban.scaria@lseg.com)