DUBAI: Bahrain-based Islamic investment firm Arcapita exited its Indian healthcare investment in MedPlus Health Services with returns of more than 60 percent over its own expectations, a company statement said on Sunday.
Arcapita sold its stake in the Indian company to a consortium of private equity investors after becoming the largest shareholder in MedPlus in 2007 in a transaction valuing the company at $72 million.
The statement did not give a figure for the sale amount.
The private equity firm maintains a positive outlook on India for investment opportunities, it said.
"Throughout India, we continue to see opportunities in each of our asset classes of private equity, real estate and infrastructure," Chief Executive Officer Atif Abdulmalik, said in a statement.
"We are investing further resources to develop our business there and to satisfy what we believe is growing investor demand for high quality Indian investments."
Arcapita was badly hit by the financial crisis as it struggled to exit its investments due to global investor woes and its fee income from raising fresh funds in the Gulf Arab region collapsed.
It expects to exit more investments to allow it to return to profit. The firm also has a $1.1 billion loan due in April 2012.
Last month, AssetCo Plc , the largest outsourcing partner to the London Fire Brigade, rejected what it called an opportunistic takeover approach from the Islamic investment firm.
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