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

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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 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.