Transaction marks KKR’s latest and largest credit investment in India

KKR, a leading global investment firm and Manipal Education and Medical Group, a major diversified conglomerate in India, announced a $600-million financing arranged by KKR Capital Markets and anchored by KKR’s private credit and insurance platforms to the Manipal Group. 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.
 
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 hospital chains in India.
 
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.
 
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. 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, added, “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.”