KKR is set to acquire a controlling stake in HealthCare Global Enterprises Ltd., while Somerset Indus Capital Partners has roped in a new limited partner for its third India fund.
KKR to buy 51% stake in HCG
Global private equity firm KKR is set to buy a 51% stake in CVC Capital-owned cancer hospital chain HealthCare Global Enterprises Ltd. (HCG) in a deal valued at Rs 3,128 crore, according to a report by The Economic Times.
The deal includes an open offer to buy a further 26% stake in the Bengaluru-based chain at an estimated Rs 490 per share, post which KKR will hold 77% stake in the company.
HCG’s stock has increased by 44% over the past six months, helped by improved financial health and news of the acquisition.
Somerset ropes in new LP for third healthcare fund
Healthcare-focused PE firm Somerset Indus Capital Partners has onboarded a new offshore limited partner for its Somerset Indus Healthcare India Fund III.
Switzerland-based Swiss Investment Fund for Emerging Markets (SIFEM) has committed $15 million to the third fund. SIFEM provides financing to small and medium enterprises in developing countries.
Somerset Indus Capital Partners has set a target to raise $250 million for the new fund and already secured $86 million in its first close last year. Earlier, it also roped in the government-backed Self-Reliant India (SRI) Fund as an LP for its India-focused third fund.
