Health care now largest item in private equity firm TPG India portfolio

Size of expected infusion into Manipal after Fortis deal dwarfs earlier flow, even with only one exit in India since its entry in 2004

One of the world’s largest private equity (PE) firms, TPG, had entered India through an investment in a pharmaceutical company in 2004. It has since widened the focus on health care here, the latest feather in the cap being the Fortis-Manipal Hospitals merger. The deal gives it 20 per cent stake in the combined hospital entity.
 
TPG’s investments in India have been largely in financial services and health care; the group has infused over $1.5 billion (Rs 97 billion) in different companies. Until now, financial services was the largest sub-category for investment and the private equity major had invested