TPG Growth’s Rise Fund is in “exclusive talks” to take over the $1 billion Abraaj Growth Markets Health Fund.
TPG’s Bill McGlashan said the step came after an extensive selection process by a committee of limited partners of the Growth Markets Health Fund.
In a statement, McGlashan said TPG is excited “to build an integrated healthcare delivery network in growth markets across Africa and South Asia that will help communities thrive.”
The news was first reported by The Wall Street Journal, but ImpactAlpha readers got a preview in July (see, “TPG Growth’s Rise Fund touts ‘impact’ in bid for Abraaj health fund”).
LPs, including the Gates Foundation, still have to approve any deal, as does a court in the Cayman islands. The parties expect the transition to occur before the end of the year.