Private Equity firm Quadria today acquired Rs410-crore Milestone Religare Investment Advisors Private Ltd with focus onhealthcare and education.
Milestone Religare is an equal joint venture between MilestoneCapital and Religare with focus on growth stage private equity investments intwo rapidly expanding sectors in India – Healthcare & Education.
Both Milestone and Religare have agreed to sell their 100per cent shareholding to Quadria Capital Investment Advisors which is owned byAmit Varma, the private equity firm said in a statement.
After completion of the transaction, Milestone Religare InvestmentAdvisors Private Limited would be renamed as Quadria Investment AdvisorsPrivate Limited and would continue to supervise the fund in its existing formand shape, it said.
Confirming the development Shachindra Nath, Group CEO ofReligare said, "Milestone Religare was established with Late Ved Arya andwe along with Milestone have been reviewing the strategic option oftransitioning the platform in experienced and stable hands."
Rubi Arya board member at Milestone Religare said, this is ajoint decision made by both venture partners Religare and Milestone.
"We believe Quadria is best suited to now steer thefund to give the best return to investors," she said.
Varma has been involved with the Milestone Religare franchisefrom its inception as part of the Investment committee, Board of Directors ofthe Investment Manager and the Operational Head, it said.