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Mumbai, Aug 21 The Ajay Piramal Group (Piramal Enterprises) is foraying into the general private equity business by launching a $200-million (Rs 817-crore) healthcare fund.

The fund would look to support healthcare projects seeking growth capital, said Dr Swati Piramal of drug-maker Nicholas Piramal India Ltd.

The fund will be launched in September, she said, adding that the money for the fund would be raised through domestic and offshore private equity firms.

Three specific segments that the fund would look to support are: hospitals and specialty clinics; infotech BPOs in healthcare and high-tech equipment manufacturers, she said.

The private equity business would be set up under Mr A.K. Purwar, former SBI Chairman, a note from the company said.

Only last year, Piramal Enterprises got into the financial services sector when it launched a real estate venture capital fund called Indiareit.

Having started with an initial corpus of Rs 250 crore, this fund has grown to manage domestic funds of Rs 430 crore and advises global funds of $200 million, the note said.

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