Private equity firm Quadria Capital, which focuses on healthcare investments across South and Southeast Asia, has closed its third fund with total commitments of $1.07 billion, significantly exceeding its $800-million target.
The oversubscribed fundraise comprises over $954 million in primary commitments and $114 million in committed co–investment capital. An additional $300 million co–investment capacity is anticipated during the investment phase, bringing total committed capital to approximately $1.3 billion upon full deployment.
The latest fundraise is around 60% larger than the predecessor vehicle that closed at $600 million in 2020.
Quadria’s fund closing milestone comes at a time when the private equity environment in SE Asia is subdued, marked by a seven-year low in capital raised and a sharp drop in final closes. Many funds have struggled to meet targets amid tighter LP scrutiny, delayed exits, and low DPI levels.
“Fund III’s close, amid one of the most demanding fundraising climates in recent memory, is a powerful validation of our strategy and our mission,” Abrar Mir, co–founder and Managing Partner, Quadria Capital, said in a press statement.
Quadria Capital’s existing backers include prominent sovereign wealth funds, asset managers, and strategic corporates from North America and Europe. The fund has secured new commitments from institutional investors, with strong backing from leading institutions across the GCC, including Saudi Arabia, the UAE, and Bahrain.
In addition, the fund attracted interest from India, drawing fresh capital from major banks, insurance companies, and family offices. It also received robust re-up commitments from impact investors.
