Singapore-based private equity firm Quadria Capital has raised $595 million for its second fund, Quadria Capital Fund II, exceeding its earlier $400 million target.
The firm raised the funding from global asset managers, pension funds, sovereign wealth funds, insurance, healthcare corporates and development finance institutions across the US, Europe and Asia, Quadria Capital said in a statement.
“Asia’s healthcare market is expected to reach $4.2 trillion in the next five years, exceeding that of the US and Europe combined today. It will continue to grow at 12 percent annually, compared to 5 per cent growth globally,” Quadria Capital Managing Partner Abrar Mir said.
Quadria Capital Fund II has already invested in global leading healthcare businesses. These include AKUMS Drugs & Pharmaceuticals, and the Asian Institute of Gastroenterology.
“As a strategic partner to the healthcare businesses that we invest in, we bring to bear Quadria’s proprietary healthcare ecosystem of healthcare professionals, companies, technologies and expertise to support long-term growth and value creation,” Abrar Mir added.
Quadria Capital currently manages total active capital of over $1 billion. It had made over 20 investments in leading healthcare businesses across Asia, which have cumulatively treated over 17.5 million patients, managed 2,500 hospital beds, funded 2,600 doctors and clinical staff and created over 11,000 jobs.