6 days ago
KKR and Manipal Group Announce USD 600 Mn Growth Financing Deal
The funding, arranged by KKR Capital Markets and backed by KKR's private credit and insurance platforms, will help the Manipal Group accelerate its long-term growth and expansion plans.
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KKR, a global investment firm, has partnered with Manipal Education and Medical Group (MEMG), a major Indian conglomerate, in a USD 600 million financing deal.
The funding, arranged by KKR Capital Markets and backed by KKR's private credit and insurance platforms, will help the Manipal Group accelerate its long-term growth and expansion plans.
Founded in 1953 by Padma Shri Dr TMA Pai, MEMG has grown into a diversified business with operations in healthcare, education, and health insurance. Its hospital arm, Manipal Health Enterprises, is one of India's largest multispecialty healthcare chains. The group also runs Manipal Academy of Higher Education, recognised as an Institute of Eminence by the Indian government.
Dr Ranjan Pai, Chairman of MEMG, said, "We are proud to welcome KKR as a strategic partner as we continue to build on Manipal's legacy in healthcare and education. KKR's longstanding India focus and flexible capital approach, as well as alignment with our long-term vision, present a strong fit for us."
KKR's Asia Pacific Credit platform focuses on providing tailored financial solutions to top companies and entrepreneurs. Since 2019, it has committed over USD 8 billion across nearly 60 investments in the Asia Pacific region, representing more than USD 21 billion in total deal volume.
Diane Raposio, Partner and Head of Asia Credit and Markets at KKR, said, "This transaction underscores the strength of our global credit platform and our ability to provide strategic, scaled capital solutions to leading businesses. India is a priority market for our credit strategy, and we look to build on this momentum."
MEMG's investment arm, Claypond Capital, has been actively investing in leading companies like PharmEasy, Zepto, FirstCry, and many others across healthcare, fintech, and consumer sectors.
Gaurav Trehan, Co-Head of KKR Asia Pacific, added, "We are pleased to deepen our relationship with the Manipal Group and Dr Ranjan Pai. Their long-standing impact across sectors is remarkable, and we look forward to supporting their continued success."
This strategic partnership marks a major step for both KKR and MEMG, aimed at strengthening India's healthcare and education ecosystem while supporting the Manipal Group's mission to reach millions more people.
