KKR provides $600-mn financing to Manipal Group

KKR provides $600-mn financing to Manipal Group (picture via Wikipedia)

KKR, a leading global investment firm, and Manipal Education and Medical Group on June 2 announced a $600-
million financing arranged by KKR Capital Markets.

"The investment will enable the Manipal Group to accelerate its corporate expansion and growth objectives by providing flexible, structured capital matched to its long-term strategic needs," they said in a joint statement.

The Manipal Group is a leading conglomerate in India with various institutions and major businesses across
the healthcare, education, and health insurance sectors, including Manipal Health Enterprises, one of India’s top multispecialty hospitals chains in India.

Gaurav Trehan, Co-Head of KKR Asia Pacific and Head of Asia Private Equity, KKR said: “We are pleased to
deepen our relationship with the Manipal Group and Dr Ranjan Pai, who have established one of India’s preeminent and homegrown businesses, as they continue to deliver on their long-term vision. 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.”

Dr. Ranjan Pai, Chairman of Manipal Education and Medical Group, 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.”

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 to be a partner of choice to more high-quality companies like Manipal on their growth ambitions.”

KKR is making its investment from its Asia Pacific Credit strategy and insurance platform. Since 2019, KKR has committed more than $8 billion across around 60 credit investments under its Asia Pacific Credit strategy, accounting for a total transaction volume of more than $21 billion.