Fund News
Healthcare-focused Quadria Capital raises $500-M at first close of $800-M Fund III
Singapore- and New Delhi-based, healthcare-focussed private equity firm Quadria Capital has marked the first close of its third investment vehicle, at approximately 60% of the base amount of USD 800 million. Quadria has a hard cap of USD 1 Billion for this vehicle. It has raised about USD 480-500 million so far. The firm received commitments from both existing and new investors that include institutional investors, insurance and pension funds, development finance institutions and family offices across the US, Europe and Asia-Pacific.While Proparco and Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) are chipping in with USD 35 million each, ADB is contributing USD 25 million. DFC, the U.S. government's development finance institution, has signed a USD 75 million cheque for the third fund. IFC committed about USD 40 million to the new fund, with a co-investment sleeve of up to USD 30 million. Quadria backs companies in healthcare delivery, life sciences, medical technology and associated healthcare services sub-sectors. The fund will back companies in the South and Southeast Asia regions, investing between USD 50-120 million in a portfolio company. Most recently, it invested USD 155 million in Maxivision Eye Hospital, a private eyecare clinic chain, in July.
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