KKR invests $600M in Manipal Group

KKR invested $600 million in Manipal Group via its private credit and insurance arms.

The deets: it’s one of India’s largest healthcare and education empires, with 29 hospitals and 50+ academic institutions, including Manipal Hospitals and the renowned Manipal Academy of Higher Education. It has been scaling rapidly with past acquisitions like Columbia Asia and Vikram Hospital.

Zoom out: this deal highlights how global investment giants like KKR are turning to private credit to back India’s healthcare bets. KKR has previously backed Max Healthcare, Reliance Retail, and Avendus Capital.

Why it matters: private credit is booming as an alternative to traditional bank lending, faster, flexible, and increasingly attractive for large Indian businesses. Healthcare, with its steady cash flows and long-term growth story, is a natural magnet.

Manipal gets scale capital without giving up equity. KKR gets solid exposure to India’s healthcare engine. Win-win.