Duff & Phelps Advises Asia Pacific Healthcare Advisors (P) Ltd. on the Recapitalization of Its Inaugural Investment Fund
by Shrutee K/DNS
India: Asia
Pacific Healthcare Advisors (P) Ltd. (“Asian Healthcare Fund” or “AHF”)
announced the recapitalization of its debut fund, AHF Investment Trust, by Capital
Dynamics. By recapitalizing the fund, AHF has reset the fund timeline and committed
to follow on investments, while continuing to support the underlying AHF portfolio
companies. At the same time, AHF was able to offer liquidity to the
non-institutional limited partners of the fund.
The
recapitalization of AHF Investment Trust represents one of the first domestic
fund recapitalizations in India, which was presented as a tender offer for
limited partnership interests by a new limited partner. The transaction allowed
AHF to access foreign investment capital, institutionalize its investor base
and expand its portfolio through follow-on investment.
Duff &
Phelps served as the exclusive sell-side secondary market advisor to AHF in
connection with the recapitalization transaction. AZB served as legal advisor
to AHF, and Cyril Amarchand Mangaldas served as the local legal advisor to the
buyer.
Richard Olson,
Managing Director at Duff & Phelps, commented: “Duff & Phelps is committed
to supporting the Indian private investment ecosystem. Our Duff & Phelps
Secondary Market Advisory team sees significant opportunity in India, and we
are proud to facilitate the AHF recapitalization. We are excited by the
prospect of expanding our already active Indian practice and leading further
growth in the Indian secondary market.”
Commenting on
the transaction, Ajay Vij, Co-founder and CEO of AHF said: “This transaction is
a validation of AHF’s vision and strategy of deploying our extensive operational
and investment experience in healthcare and life sciences to a fast-growing,
under-developed sector in India, by following an active hands-on investment approach.
We look forward to continue working with
our exciting portfolio of companies in their growth journey.”
Varun Gupta, India
Country Leader at Duff & Phelps, said, “As a truly global firm, Duff &
Phelps is uniquely positioned to use our international reach to provide a
solution that worked for our Indian client. Over the years, we have created a strong
presence in India. Today, Duff & Phelps and our Kroll division have over 250
employees in the country, providing valuation, restructuring, alternative
assets advisory, transaction advisory, investigation and dispute resolution,
among other services.”
As one global
firm, Duff & Phelps brings to India international best practices for
valuations and governance that investors expect out of fund managers on the
ground. With the acquisition of Kroll and the roll-out of secondary market
advisory solutions, Duff & Phelps offers best-in-class alternative asset
advisory services to general partners and limited partners. Duff & Phelps’ clients
and relationships range from small venture capital clients up to large
infrastructure funds and distressed asset investors, sovereign wealth funds and
other limited partners.
About AHF: Founded in
2011, AHF is a New Delhi-based, India-focused private investment firm. AHF
invests across India's healthcare and life sciences sectors and seeks to
partner with promoters to maximize value creation potential. The AHF team is
composed entirely of healthcare sector experts who apply their expertise and
networks to support AHF’s portfolio. AHF’s current portfolio is composed of
businesses in the healthcare delivery, consumer healthcare and medical device
businesses.
About Buyer: Capital
Dynamics is an asset management firm focusing on private assets including
private equity, private credit and clean energy infrastructure. Capital
Dynamics offers a wide range of products including primary funds of funds,
secondaries, direct investments, co-investments, customized separate accounts
as well as structured private equity solutions. The firm has USD 15 billion in assets
under management and advisement.
Comments
Post a Comment