Abraaj Capital Exits IHH Healthcare Amid IPO

The region’s biggest investment firm leaves as the healthcare provider launches third biggest offering of the year.

Abraaj Capital, the Middle East’s largest private equity firm, is exiting its investment in IHH Healthcare, one of the largest private healthcare providers in the world, through an initial public offering.

Approximately $2 billion was raised in the offering, making it the third largest IPO to date this year.

The offering was met with strong global demand with over 400 international accounts participating.

Arif Naqvi, founder and CEO of Abraaj Capital, said: “Today’s announcement marks the successful conclusion of an outstanding partnership and a natural closure of the investment cycle of Abraaj Capital’s US$ 2 billion Infrastructure and Growth Capital Fund and US$ 500 million Abraaj Buyout Fund II.

“We are proud to have played a significant role in the success of Acibadem and IHH and to have participated in the development of one of the largest listed healthcare providers in the world.”

IHH’s debut on the Malaysian and Singaporean bourses on July 25 marks the first concurrent dual listing on the Bursa Malaysia and the Singapore Stock Exchange, with IHH becoming one of the largest listed private healthcare providers in the world.

IHH’s market capitilisation is expected to be approximately $7.1 billion.

Omar Lodhi, senior partner at Abraaj Capital, who served on the Board of IHH, said: “IHH’s successful IPO validates our philosophy of investing in high-growth regions and high-impact sectors.

“We want to thank the management team at IHH, as well as the team at Khazanah and Mitsui, with whom we have worked very closely in our collective drive to create long-term value and global best practice in the healthcare sector.”

The private equity firm also recently closed it’s acquisition of UK-based Aureos Capital.