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TPG Growth sets up healthcare platform; Dai-ichi to invest in Union Mutual Fund
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TPG Growth, the mid-market and growth-equity investment platform of alternative investments giant TPG Capital, has established a healthcare-specific platform.

A Mint report, quoting two people aware of development, said TPG Growth’s senior healthcare advisor Vishal Bali has been named vice-chairman of the platform, Asia Healthcare Holdings.

Asia Healthcare currently holds TPG’s investments in Rhea Healthcare Pvt. Ltd, which runs a hospital chain under the Motherhood brand, and cancer treatment provider Cancer Treatment Services International.

Last year, TPG had invested $33 million in Rhea Healthcare for a significant majority stake. It had also picked up a 65% stake in Cancer Treatment Services for another $33 million.

Dai-ichi-Union MF deal

Public-sector lender Union Bank of India got into an agreement to sell a 40% stake in its mutual fund business to Japan’s Dai-ichi Life Insurance Company, The Economic Times reported.

UBI has said in a stock exchange disclosure that the company had received in-principal approval from its board to allow investments by foreign investors in Union Asset Management Company Pvt. Ltd, which manages the assets of Union Mutual Fund.

In 2016, UBI had bought out joint-venture partner KBC Asset Management’s 49% stake in Union Asset Management Company.

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