Mumbai: Piramal Enterprises, part of Ajay Piramal Group, said on 22 August it will launch a $200-million private equity business under the leadership of former State Bank chairman AK Purwar.
The first fund to be launched would focus on healthcare as Piramal group has already established its presence in the domestic healthcare sector, a statement issue by the company said.
The Group’s arm is the pharma business Nicholas Piramal.
The fund size would be about $200 million, it said.
The fund would invest in hospitals, speciality clinics, BPOs in healthcare space and high-tech medical equipment manufacturers, it said.
The Group had forayed into financial services in 2006 with the launch of a real estate venture capital fund, Indiareit.