Bahrain-based Investcorp, a global alternative asset manager, has announced that it has closed a US$45 million investment in Nephrocare Health Services, an Indian healthcare firm that offers dialysis services across India.
NephroPlus has the largest network of dialysis centres in the country and hosts over 140,000 dialysis sessions per month in 196 centres across more than 115 cities in India. It is estimated that only 15 percent of the over 1.2 million patients in India with kidney failure were able to access dialysis. While investing in the Indian firm, Investcorp said that NephroPlus aspires to build a regional network of dialysis centres spanning India and selected countries in Asia and the Gulf region.
On Thursday, Investcorp also announced its acquisition of a fresh portfolio of 126 industrial properties totalling 10.2 million square feet across five major metropolitan areas in the United States at a total capitalization of about US$800 million.
With around across the US, totaling more than, in Investcorp’s US portfolio currently totals around 240 industrial properties spanning more than 20 million square feet and includes prime properties located across the major industrial markets of Atlanta, Chicago, Dallas, Charlotte, and Memphis. In the 12-month period to 30 June, Investcorp has ranked as the fifth largest international buyer of US real estate; the new portfolio investments are likely to raise this ranking.
The latest acquisition provides Investcorp with a 91.5 percent leased portfolio of class A and B warehouse, distribution, and light manufacturing/research and development buildings across logistics, e-commerce, industrial chemicals, and food services industries.
Mohammed Alardhi, executive chairman of Investcorp, said: “Our real estate business and the US market have been and will continue to be key drivers of our growth strategy. We are excited to build upon our position as one of the largest international buyers of US real estate through this transaction, which represents the biggest real estate portfolio acquisition in our history.