To promote healthcare transformation throughout Asia, Quadria Capital closes oversubscribed $1 Bn fund III

Leading healthcare-focused private equity firm Quadria Capital, based in Singapore, announced on Monday that its Fund III closed with $1.07 billion in total commitments, well above its initial goal of $800 million.

The oversubscribed fundraise includes over $954 million in primary commitments and $114 million in committed co-investment capital, the firm said in a statement.

At full deployment, the total committed capital will be around $1.3 billion, with an additional $300 million co-investment capacity expected during the investment phase.

With this most recent fundraising effort, Quadria has solidified its position as the largest healthcare-focused private equity fund in South and Southeast Asia, surpassing its previous fundraising of $600 million in 2020 by about 60%.

“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,

“It reflects deep global investor conviction in the transformational opportunity in Asian Healthcare, where social impact and financial performance go hand in hand,” said Abrar Mir, Co-Founder and Managing Partner, Quadria Capital.

The firm’s ability to continuously draw in top-tier international investors during a period when global capital is cautious, according to Quadria, highlights the firm’s strong belief in its investment strategy and the undeniable opportunities in the Asian healthcare market.

Notably, the company’s biggest current backers include well-known asset managers, strategic corporations, and sovereign wealth funds from North America and Europe.

New commitments from internationally renowned institutional investors were also obtained by the fund.

Significant support was provided by prominent organizations from the Gulf Cooperation Council (GCC), including Bahrain, the United Arab Emirates (UAE), and Saudi Arabia.

India also showed interest in the fundraise, which brought in new funding from family offices, insurance companies, and large banks.

Further demonstrating Quadria’s ongoing commitment to scalable, high-impact healthcare companies that provide life-saving care to underprivileged populations throughout Asia, the fund also received strong re-up commitments from impact investors.

The statement claims that Indonesia, which is expected to rank seventh in the world by 2030, is witnessing a double-digit compound annual growth rate (CAGR) in healthcare spending, which is being driven by rising incomes, expanding demand, and robust public and private investment.

Quadria is strengthening its commitment as the nation moves from basic access to quality and innovation by opening a new office in Jakarta. This move reaffirms Indonesia’s strategic importance for the company, and in June, seasoned executive Raymond Rudianto will join as Managing Director and Head of Indonesia to oversee Quadria’s operations in that country.

“We are excited to welcome Raymond to the firm to establish our on the ground presence – Indonesia has been and very much continues to be a strategic priority for Quadria,” said Ewan Davis, Partner, Quadria Capital.

Hermina Hospital, the largest BPJS-focused hospital group in the nation with 51 hospitals and counting, serves almost 10 million patients a year and is part of Quadria’s portfolio.

Being the top supplier of subsidized healthcare in the country, Hermina is essential to providing high-quality, reasonably priced care on a large scale.

“Our investment in Hermina underscores our belief that the power of scale and operational excellence can deliver affordable and quality healthcare outcomes across Indonesia,” added Ewan Davis.

This expands upon Quadria’s track record of success in the market, which includes its previous investment and exit from SOHO Global Health, one of the biggest integrated pharmaceutical companies in Indonesia, the statement said.

The leading healthcare investor in Asia, Quadria Capital was established in 2012 and currently manages over $4 billion in assets across 27 investments in South and Southeast Asia, including Malaysia, Singapore, Vietnam, Indonesia, and India.