KKR lends $600 million to hospital chain Manipal Group

New Delhi: KKR, a leading global investment firm, has made a $600 million debt funding into Manipal Group, which owns the leading hospital chain KKR said on Monday.

The financing, arranged by KKR Capital Markets, 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, said the statement.

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 pre-eminent and homegrown businesses, as they continue to deliver on their long-term vision."

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

KKR’s Asia Pacific Credit platform seeks to provide, among other private credit strategies, bespoke solutions to high-quality companies, entrepreneurs, promoters and sponsors that harness the strength of KKR’s private markets investment capabilities and its expertise as one of the largest alternative credit managers globally.