Credit Suisse, the Swiss-based international bank, has announced it has raised a $595m via an Asian-focused healthcare fund, exceeding its original $400m target.
The Quadria Capital Fund II was managed by Quadria on behalf of Credit Suisse from its base in Singapore to invest in healthcare companies across the Asia-Pacific region, including India.
Credit Suisse said the fund has made two investments in India, in AKUMS Drugs & Pharmaceuticals and Asian Institute of Gastroenterology, in Hyderabad.
Asia is also rapidly becoming the world's largest healthcare market."
Marisa Drew, CEO of impact advisory and finance at Credit Suisse, said, "Asia is also rapidly becoming the world's largest healthcare market, due to population growth, longer life expectancy, urbanisation and the emergence of western chronic diseases."
"Government-funded healthcare systems require new business models. On top of that, there is demand for private capital solutions"
Drew added, "These market fundamentals form the basis of Quadria's investment thesis, and have opened up an opportunity for investors to gain exposure to the sector's underlying growth."