Quadria Capital, a Singapore-based premier healthcare-focused private equity firm, announced Monday the final close of its Fund III with $1.07 billion in total commitments, significantly exceeding its original $800 million target.

The firm said in a statement that the oversubscribed fundraise comprises over $954 million in primary commitments and $114 million in committed co-investment capital.

An additional $300 million co-investment capacity is anticipated over the course of the investment phase, bringing total committed capital to approximately $1.3 billion upon full deployment.

This latest fundraise is around 60 percent larger than the firm’s previous $600m fund raised in 2020, cementing Quadria’s position as the largest dedicated healthcare private equity fund in South and Southeast Asia.

“Fund III’s close, amid one of the most demanding fundraising climates in recent memory, is a powerful validation of our strategy and our mission,

“It reflects deep global investor conviction in the transformational opportunity in Asian Healthcare, where social impact and financial performance go hand in hand,” said Abrar Mir, Co-Founder and Managing Partner, Quadria Capital.

Quadria highlighted that at a time when global capital is cautious, the firm’s ability to consistently attract top-tier global investors underscores the strong conviction in its investment strategy and the undeniable opportunities in the Asian healthcare market.

It is noted that the firm’s largest existing backers include prominent North American and European sovereign wealth funds, asset managers, and strategic corporates.

The fund also secured new commitments from globally recognized institutional investors.

Most notably, there was strong backing from leading institutions across the Gulf Cooperation Council (GCC), including Saudi Arabia, the United Arab Emirates (UAE), and Bahrain.

The fundraise further attracted interest from India, with fresh capital from major banks, insurance companies, and family offices.

Additionally, the fund received robust re-up commitments from impact investors – underscoring Quadria’s continued dedication to scalable, high-impact healthcare businesses that deliver lifesaving care to underserved populations across Asia.

According to the statement, Indonesia, on track to become the world’s 7th largest economy by 2030, is seeing healthcare expenditure rise at a double-digit compound annual growth rate (CAGR)—driven by growing demand, rising incomes, and strong public and private investment.

As the country shifts from basic access to quality and innovation, Quadria is deepening its commitment with the opening of a new office in Jakarta, reinforcing Indonesia’s role as a strategic priority for the firm, and has recently recruited seasoned executive Raymond Rudianto to join as Managing Director and Head of Indonesia in June to lead Quadria’s business there.

“We are excited to welcome Raymond to the firm to establish our on the ground presence – Indonesia has been and very much continues to be a strategic priority for Quadria,” said Ewan Davis, Partner, Quadria Capital.

Quadria’s portfolio includes Hermina Hospital, the largest BPJS-focused hospital group in the country, with 51 hospitals and growing, serving nearly 10 million patients annually.

As the nation’s leading provider of subsidized healthcare, Hermina plays a vital role in delivering affordable, quality care at scale.

“Our investment in Hermina underscores our belief that the power of scale and operational excellence can deliver affordable and quality healthcare outcomes across Indonesia,” added Ewan Davis.

This builds on Quadria’s successful track record in the market, including its prior investment and exit from SOHO Global Health, one of Indonesia’s largest integrated pharmaceutical companies, said the statement.

Founded in 2012, Quadria Capital is Asia’s premier healthcare investor managing over $4 billion in assets across 27 investments in South and Southeast Asia including India, Vietnam, Indonesia, Malaysia and Singapore.

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