You are here: Home » Companies » News
Business Standard

Quadria Capital acquires Milestone Religare PE

Milestone Capital had been looking for potential buyers after its founder Ved Prakash Arya died in a freak accident in August 2011

Reghu Balakrishnan  |  Mumbai 

Investment Advisors, an Independent Asia focused healthcare private equity fund, has decided to acquire Milestone Private Limited (Milestone Religare), an equal joint venture between Milestone Capital and

Milestone Capital had been looking for potential buyers after its founder Ved Prakash Arya died in a freak accident in August 2011. The firm was engaged in discussions with various players such as Piramal Group, Dewan Housing and IL& FS.

Milestone, through its JV with Religare-Milestone Religare, runs two —a Rs 450-crore domestic fund and a $250-million offshore fund-under India Build-Out Fund — for investments in healthcare and education sectors. It invested in IMS Learning Resources, CARE Ratings and Krishna Institute of Medical Sciences.

is owned by Amit Varma, who has been involved with the Milestone franchise from its inception as part of the Investment committee, Board of Directors of the Investment Manager and the Operational Head. Quadria, targeting to raise $300 million, is sponsored and supported by Religare Global Asset Management which is a $15 billion alternative investment platform.

Post completion of the transaction, Milestone Religare Private Limited would be renamed as Quadria Investment Advisors Private Limited and would continue to supervise the fund in its existing form and shape, said a statement from


Shachindra Nath, Group CEO of Religare said, “We along with Milestone have been reviewing the strategic option of transitioning the platform in experienced and stable hands. We are very pleased that Amit Varma who has been part of the fund from its inception has stepped up to take the ownership and management responsibility of the entire fund."

First Published: Thu, March 21 2013. 21:27 IST
RECOMMENDED FOR YOU