Private Equity

Fund News

Healthcare-focused Quadria Capital to complete returning Fund 1 by Dec 2023

Mint  

Quadria Capital, a healthcare-focused investor, has started distributing the gains from its 10-year-old first fund, along with the principal, to its limited partners. The firm plans to return the fund completely by the end of the calendar year. The fund's NAV is tracking close to 2.9x cash-on-cash (in USD). Quadria Capital's inaugural fund's target corpus was USD 300 million. It eventually invested USD 450 million, including co-investments. The portfolio included Concord Biotech, which went public in August, with Quadria selling its 20% stake. It also exited 30% in AIG Hospitals last year, an investment made from both Fund 1 and Fund 2. Quadria Capital raised USD 600 million in 2016 for its second fund and deployed USD 750 million, including limited partner co-investments. Currently, Quadria Capital is in the process of raising its third fund, for which it expects to raise USD 800 million to USD 1 Billion.