KKR lends $600 million to Manipal Group in its largest credit investment
The capital was arranged by KKR Capital Markets and is being anchored by the firm's private credit and insurance platforms.
Manipal Group has grown into a diversified conglomerate with a significant presence in healthcare, education and health insurance across India and overseas. Its operations reach over 20 million people annually, with Manipal Hospitals—where it owns a 40 per cent stake—emerging as the largest tertiary healthcare network in the country.
Founded in 1953 by TMA Pai, thehas grown into a diversified conglomerate with a significant presence in healthcare, education and health insurance across India and overseas. Its operations reach over 20 million people annually, with Manipal Hospitals—where it owns a 40 per cent stake—emerging as the largest tertiary healthcare network in the country.
The deal comes amid a broader surge in private credit activity in India, with global investors increasingly stepping into a space that traditional banks and non-banking financial companies (NBFCs) often struggle to serve. By offering flexible capital to both performing and stressed companies, private credit is helping bridge financing gaps while delivering superior risk-adjusted returns to investors. ALSO READ: In the works: Motherson Group's offer to acquire Marelli Holdings
Last week, the Shapoorji Pallonji Group raised India's largest private credit deal at $3.35 billion. The infrastructure conglomerate secured the funding by pledging a portion of its Tata Sons stake as collateral, attracting commitments from global investors including BlackRock and Morgan Stanley.
India has emerged as one of the largest private debt markets in the Asia-Pacific region and is projected to account for up to 30 per cent of the region's private credit fundraising by the end of 2025, according to a PwC report.
'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 on their growth ambitions,' said Diane Raposio, partner and head of Asia credit and markets, KKR.
'This transaction underscores the strength of our global credit platform and our ability to provide strategic, scaled capital solutions to leading businesses,' she added.
KKR is channelling the financing through its Asia-Pacific credit strategy and insurance platform. Since 2019, the firm has committed over $8 billion across approximately 60 credit deals in the region, representing a total transaction volume exceeding $21 billion, the company said.
'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,' said Ranjan Pai, chairman, Manipal Education and Medical Group. The group did not specify where it would invest the proceeds of the debt.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
an hour ago
- India.com
Anil Ambani unveils masterplan to rule the skies, to invest Rs 100000000000 for development of...
Anil Ambani (File) In yet another significant business move, Anil Ambani-led Reliance Defence has announced a Rs 10,000 crore investment in the aerospace manufacturing sector to fund its ambitious project of launching the first 'Made in India' commercial aircraft by 2028. The Reliance Group company has partnered with French aerospace giant Dassault Aviation to manufacture the Falcon 2000 LXS Business Executive Jets in India for the global market. This will mark the first instance when Dassault will build the Falcon 2000 jets outside France What is the Reliance-Dassault deal? According to official details, Reliance Defence, a subsidiary of Anil Ambani-led Reliance Infrastructure, has partnered with Dassault Aviation to manufacture the Falcon 2000 LXS Business Executive Jets in India for the global market. Anil Ambani-led Reliance Aerostructure and Dassault Aviation launched DRAL as a joint venture in 2017, and established a state-of-the-art manufacturing facility in Mihan, Nagpur, marking the start of operations. Since 2017, DRAL has constructed more than 100 key subsections for the Falcon 2000 since delivering its first Falcon 2000 front section in 2019, demonstrating its superior precision manufacturing skills and contributing significantly to the Falcon global production program. As per an official release, DRAL is expected to recruit several hundred engineers and technicians over the next decade to support its expanding operations. 'This growth underscores Dassault Aviation's deep commitment to strengthening India's aerospace manufacturing ecosystem and advancing the nation's emergence as a global center of excellence for high-precision aviation production.' How Anil Ambani plans to make India an aerospace manufacturing hub? Dassault Aviation– primarily known for its Rafale fighter jets which are operated by the Indian Air Force (IAF)– termed the agreement with Reliance Aerostructure Limited (RAL), another subsidiary of Anil Ambani's Reliance Infrastructure Ltd, as an 'epic moment' for India, who will join an elite club of countries that manufacture next-generation business jets, including the United States, France, Canada and Brazil. According to experts, the Reliance-Dassault deal would established India as a major player in the global aerospace manufacturing industry. In a statement, Reliance Defence MD and CEO Rajesh Dhingra said the company aims to transform India into a major aerospace manufacturing hub in the next five years. Commenting on the deal, Anil Ambani asserted that the collaboration reflects the Reliance Group's commitment 'to Prime Minister Shri Narendra Modi's vision of 'Atmanirbhar Bharat (Self Reliant India)' and 'Make in India for the World'.' 'Our partnership with Dassault Aviation for manufacturing of Falcon Business Jets in India is a defining moment for the country, Aviation Industry and the Reliance Group. This will help position India as a key force in the global aerospace value chain,' the Reliance Group Chairman said.
The Hindu
an hour ago
- The Hindu
₹344 crore interest subsidy to be credited to SHGs by July 18
AD The State government has released ₹344.35 crore as interest subsidy under the Vaddi Leni Runalu (VLR) scheme for women's self-help groups (SHGs) as part of the Indira Mahila Shakti (IMS) initiative. Of the total amount released by the Finance department on Friday, ₹299.35 crore has been earmarked for 3,51,599 SHGs in rural areas and ₹44 crore for those in urban areas. The interest subsidy will be directly credited to the accounts of eligible groups by July 18. In addition, Ministers, MLAs and other public representatives will distribute interest subsidy cheques along with accident and loan insurance cheques in their respective constituencies shortly. The interest-free loan scheme (VLR), which was inactive during the previous Bharat Rashtra Samithi (BRS) government's tenure from 2019 to 2023, is being actively revived by the Congress government. Officials stated that over ₹3,075 crore in interest dues remained pending during the BRS period. Since the Revanth Reddy-led Congress government came to power, ₹862.04 crore has been released towards interest subsidy, including the latest tranche of ₹344 crore. The scheme is being spearheaded by Panchayat Raj and Rural Development Minister Danasari Anasuya (Seethakka). Under her initiative, the State government bears the interest on loans taken by SHGs from banks, thereby ensuring zero interest burden on the beneficiaries. Minister Seethakka reiterated the government's commitment to the economic empowerment of women in the State. She noted that annual loan disbursements to SHGs are expected to exceed ₹25,000 crore and assured that the government would continue to pay the interest component to alleviate financial stress on women. 'The revival and timely implementation of this scheme reflect the Congress government's commitment to women's welfare,' she added.
Hindustan Times
2 hours ago
- Hindustan Times
Mumbai man living in Texas for 35 years wonders if returning home is still worth it
A heartfelt post by a 53-year-old man raised in Mumbai and now living in Texas has gone viral on Reddit after he sought advice on whether to return permanently to India or continue using it as a holiday destination. The user, who goes by the handle @Careless-Ad1404, shared his dilemma in a post titled 'Mumbai Guy thinking of whether to come back from USA', sparking a spirited conversation. A Mumbai man living in Texas sparked debate online after asking if returning to India after 35 years abroad was still a wise decision.(Representational image/Unsplash) (Also read: Dramatic Texas flood rescue video: Stranded victim airlifted from raging waters) A life divided between two continents In his post, the user revealed, 'Hi all, raised and schooled in Mumbai- Bandra W. 53 now and lived past 35yrs in Texas. American wife- 2 kids 18/13. My brother/Sis also settled in USA. Parents go and come back every 6mos with GC. But they getting old now.' He mentioned visiting Mumbai for the first time in 13 years, observing that while the city felt familiar, it had changed significantly. 'Same old Mumbai but more congestion but a little light traffic in Bandra now thanks to Costal road,' he noted. With his children growing older and beginning to plan their independent lives, the user said he was considering returning to India—possibly after his younger child finishes college or gets married. He added, 'I'm in Biz and last year almost netted $200k.' His post ended with the question: 'Is it worth it to move completely or just buy a flat to visit for vacation?... what would be rental yield on a flat if I buy and rent it out if I stay out of Mumbai for 2-3yrs?' Check out the post here: Internet divided over the prospect Reddit users were quick to weigh in, offering both warnings and practical suggestions. One commenter bluntly advised, 'Do not do it. Mumbai is ok for visit. Not for living. I wouldn't toss Austin for Andheri.' Another added, 'Not reading your post. Just came to say no. Wish you a good life.' 'There's a high chance you and your family may start feeling unwell from just the environmental changes itself,' said one. Another user suggested a middle ground: 'Buy a house and visit for vacation. Lots of things going on in Mumbai, adjusting will be very hard.' One said, 'Yes you can shift to Mumbai,' while another observed, 'If you're rich rich in India then yes.'
