PE investor Quadria Capital plans new $400-million health care fund

Quadria Capital, a health care-focused Asian private equity investor, is targeting a new $400-million fund for the sector. Quadria completed a first close of $194 mn in March. The investments would be in this country and others in South and Southeast Asia. 

International Financial Corporation, the World Bank's investment arm, is proposing a limited partnership investment in the proposed fund, of up to $25 million. The fund will be registered in Singapore, as a limited partnership. 

The target is $400 million, with a hard cap of $500 million, say sources. The idea is equity to growth-stage companies in the segment.

Quadria itself will focus on strategic initiatives and operational improvement in portfolio companies. The companies in question would in delivery of health care, life sciences, medical technology and associated areas.

Quadria has assets under management of at least $1.5 billion, with investment in 18 companies across the Asia-Pacific region. In India, it invested in Concord Biotech, Healthcare at Home, Strand Life Sciences, Medica Hospitals and Regency Health-care.

Quadria Capital Investment Management, the investment manager, is located in Singapore. Quadria Capital Advisors Pvt Ltd, the investment advisor, is based in Delhi.