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  • Professor Andrea M. Armani, University of Southern California
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  • Professor Stefan Witte, Delft University of Technology

KKR Provides $600 Million Financing to Indian Conglomerate Manipal Group

By: via Business Wire

Transaction marks KKR’s latest and largest credit investment in India

KKR, a leading global investment firm, and Manipal Education and Medical Group (“MEMG” or “Manipal Group”), a major diversified conglomerate in India, today announced a $600-million financing arranged by KKR Capital Markets and anchored by KKR’s private credit and insurance platforms to the Manipal Group. The investment will enable the Manipal Group to accelerate its corporate expansion and growth objectives by providing flexible, structured capital matched to its long-term strategic needs.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250601919977/en/

The Manipal Group is a leading 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 hospitals chains in India.

KKR’s Asia Pacific Credit platform seeks to provide, among other private credit strategies, bespoke solutions to high-quality companies, entrepreneurs, promoters and sponsors that harness the strength of KKR’s private markets investment capabilities and its expertise as one of the largest alternative credit managers globally.

Gaurav Trehan, Co-Head of KKR Asia Pacific and Head of Asia Private Equity, KKR said, “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.”

Dr. Ranjan Pai, Chairman of Manipal Education and Medical Group, 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.”

Diane Raposio, Partner and Head of Asia Credit and Markets at KKR, added, “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.”

KKR is making its investment from its Asia Pacific Credit strategy and insurance platform. Since 2019, KKR has committed more than $8 billion across around 60 credit investments under its Asia Pacific Credit strategy, accounting for a total transaction volume of more than $21 billion.

Additional details of the transaction are not disclosed.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Manipal Education and Medical Group (MEMG)

Founded in 1953 by Padma Shri Dr TMA Pai, MEMG has evolved into a diversified conglomerate, with a strong presence in healthcare, education and health insurance in India and globally. MEMG’s operations touch the lives of over 20 million people annually with Manipal Hospitals scaling up to become the largest tertiary network in India. MEMG’s flagship University, Manipal Academy of Higher Education has been recognized as an Institute of Eminence by the Government of India. Claypond Capital, the family office of Dr. Pai and the investing arm of MEMG has been one of the more prolific investing family offices in India in the last 18 months. Their marquee investments include Aakash, BPL Medical, BlueStone, Easy Home Finance, First Cry, Finnable, InCred Finance, NSE, Panacea Medical, PharmEasy, Purpple, Recykal, SSI Innovations and Zepto.

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