KKR and Manipal Education and Medical Group (MEMG), 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 for the Manipal Group. This investment will enable the Manipal Group to accelerate its corporate expansion and growth objectives by providing flexible and structured capital matched to its long-term strategic needs.
The Manipal Group is a 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. And KKR’s Asia Pacific Credit platform looks to provide solutions to high-quality companies, entrepreneurs, promoters, and sponsors that utilizes the strength of KKR’s private markets investment capabilities and its expertise as one of the largest alternative credit managers globally.
KKR is making this investment from its Asia Pacific Credit strategy and insurance platform. Since 2019, KKR has committed over $8 billion across approximately 60 credit investments under its Asia Pacific Credit strategy, resulting in a total transaction volume exceeding $21 billion.
KEY QUOTES:
“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.”
Gaurav Trehan, Co-Head of KKR Asia Pacific and Head of Asia Private Equity, KKR
“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.”
Dr. Ranjan Pai, Chairman of Manipal Education and Medical Group
“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.”
Diane Raposio, Partner and Head of Asia Credit and Markets at KKR
