KKR invests USD 600 mn in Manipal Group

New Delhi, Jun 2 (PTI) Global investment firm KKR on Monday said it has provided USD 600 million (about Rs 5,121 crore) finance 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 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," Gaurav Trehan, Co-Head of KKR Asia Pacific and Head of Asia Private Equity at KKR, said in a statement.

The 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 multi-speciality hospital chains in India.

"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," Manipal Education and Medical Group Chairman Ranjan Pai said.