Quadria Capital, a Singapore-based private equity firm, announced it has closed its second fund. According to reports, the fund reached its maximum of $595 million. The firm plans to invest in healthcare assets across Asia, the firm said in a statement. It had initially targeted a raise of $400 million.

Quadria Capital Investors and Targets

The firm said that it raised capital across the U.S., Europe, and Asia. The Quadria Capital Fund II plans to put its capital to work over an eight-year period, with an extension of up to 10 years.

The firm said it plans to divest assets as soon as five years into the investment.

“Countries in South and Southeast Asia are home to nearly a third of the world’s population and shoulder almost half of the world’s disease burden. However, they receive just 5% of the global expenditure,” managing partner Dr. Amit Varma said.

The new fund has already invested in AKUMS Drugs & Pharmaceuticals, the largest pharmaceutical company in India. It also invested in the Asian Institute of Gastroenterology.

The private equity firm has an AUM of more than $1 billion. It expects that Asia’s healthcare market will increase to $4.2 trillion within the next five years.

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