Private equity firm Bain Capital has acquired 90% of Adani Capital and Adani Housing, the two non-banking financial companies of the Adani Group, for an undisclosed amount.

Under the deal, Bain will buy out all of the Adani family's private investments in the company.

Shardul Amarchand Mangaldas & Co acted for Bain Capital and the team was led by Partner Gunjan Shah along with Partners Karun Prakash and Nirmal Mahtani.

Competition Partner Aparna Mehra advised on the competition law aspect of the deal.

Cyril Amarchand Mangaldas advised Adani and the team was led by Managing Partner Cyril Shroff along with Partners L Viswanathan, Anu Tiwari and Ketaki Mehta.

Bain Capital has also committed $120 million in primary capital, to facilitate the NBFC's ongoing growth. Additionally, Bain Capital will make available to the Company a $50 million liquidity line in the form of non-convertible debentures, reported Mint.