New Enterprise Associates (NEA) and Jacob Ballas private equity will together buy out one of Carlyle’s early Indian Investments in Chennai-based Financial Software & Systems (FSS), the largest domestic payment technology firm. Sources said NEA and Jacob Ballas are set to invest $60 million into FSS in return for 40% stake in the firm. This include Carlyle’s 34% stake as well as additional cash infusion. The deal could be unveiled in the next 2-3 weeks. Carlyle, which had invested $10 million from its first growth fund in India in 2001, will move out with handsome gains, said sources privy to the development. […]