India Dealbook: Blackstone buys Aadhar Housing; KKR backs Baby Memorial Hospital

Photo: Bloomberg

In the latest PE sector news, Blackstone said that it has completed the acquisition of 97.7 per cent stake in Aadhar Housing Finance Limited while KKR India has pumped an undisclosed amount in Baby Memorial Hospital (BMH).

Blackstone buys Aadhar Housing Finance

Global investment firm Blackstone Tuesday said it has completed the acquisition of 97.7 per cent stake in Aadhar Housing Finance Limited including the entire stake held by the existing controlling shareholders, Wadhawan Global Capital Limited (WGC) and Dewan Housing Finance Limited.

As part of the transaction, Blackstone has also infused Rs800 crore primary equity capital into Aadhar to fund the company for future growth, it said in a statement.

Amit Dixit, head of India Private Equity and senior managing director at Blackstone, said: “Our primary capital infusion of Rs 8,00 crore has approximately doubled the company’s net worth and reduced its debt-to-equity ratio by roughly half. We expect the rating agencies and company’s lenders to welcome the ownership transition to a long-term, well-capitalised and patient investor in Blackstone.”

KKR backs Baby Memorial Hospital

KKR India Financial Services Pvt. Ltd, KKR’s alternative credit business in India, has invested an undisclosed amount in Kerala-based Baby Memorial Hospital (BMH), VCCircle reported.

The firm will use the funding to refinance existing term loans and for brownfield expansion, the report said.

Founded in 1987 by KG Alexander, BMH provides tertiary care services across multiple specialties and also has an academy offering nursing and paramedical courses. It claims to have a team of 300 doctors and over 2000 nursing, paramedical and administrative staff.

 

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.