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Time of India
02-06-2025
- Business
- Time of India
KKR invests $600 million in Manipal Group
Synopsis KKR has invested $600 million in debt funding into Manipal Group, a leading hospital chain in India. This financing, arranged by KKR Capital Markets, will support Manipal's expansion and growth plans by providing flexible capital. KKR's investment, made through its Asia Pacific Credit strategy, reflects its commitment to providing tailored solutions to high-quality companies in the region.
Mint
02-06-2025
- Business
- Mint
KKR provides $600 mn financing to Manipal Group to fuel its corporate expansion
Global investment firm KKR announced on Tuesday that it would finance the Manipal Group with $600 million, making this the firm's largest credit investment in India. The investment, arranged by KKR Capital Markets and anchored by KKR's private credit and insurance platform, will enable the Manipal Education and Medical Group (or the Manipal Group) to accelerate its corporate expansion and growth objectives by providing flexible, structured capital matched to its long-term strategic needs, the two entities said in a statement. 'KKR's longstanding India focus and flexible capital approach, as well as alignment with our long-term vision, present a strong fit for us,' Dr. Ranjan Pai, chairman of the Manipal Group, said in the statement. 'The Manipal Group has built a strong reputation over the decades as one of India's healthcare and education leaders, and we look forward to supporting and contributing to their continued success,' added Gaurav Trehan, co-head of KKR Asia Pacific and head of Asia Private Equity at KKR. KKR is making this investment from its Asia Pacific Credit strategy and insurance platform. Since 2019, it has committed more than $8 billion across about 60 credit investments under the Asia Pacific Credit strategy platform, accounting for a total transaction volume of over $21 billion. Additional details of the transaction were not disclosed. KKR's Asia Pacific Credit platform seeks to provide bespoke solutions to high-quality companies, entrepreneurs, promoters, and sponsors, among other private credit strategies. These solutions harness the strength of KKR's private markets investment capabilities and expertise as one of the largest alternative credit managers globally. 'This transaction underscores the strength of our global credit platform and our ability to provide strategic, scaled capital solutions to leading businesses,' Diane Raposio, partner and head of Asia credit and markets at KKR, said. 'India is a priority market for our credit strategy, and we look to build on this momentum to be a partner of choice to more high-quality companies like Manipal on their growth ambitions,' Raposio added. The Manipal Group is a leading conglomerate in India with various institutions and major businesses, including Manipal Health Enterprises, one of the country's top multispecialty hospital chains, across the healthcare, education, and health insurance sectors.
