IDFC Alternatives to invest in Manipal Servicecorp | MSFM to launch Students Hostels
Bengaluru, November 26: IDFC Alternatives Ltd, through IDFC Private Equity Fund III, has announced an investment of Rs. 100 Crores in Manipal Servicecorp Facility Management Pvt Ltd, which runs student hostels and offers facility management and catering services.
MSFM is promoted by the Manipal Education & Medical Group. This is IDFC Alternatives’ second investment in the education services space and its third partnership with the Manipal Group. MSFM currently managing over 12 million square feet across 70+ sites and providing institutional catering services to over 13,000 people a day.
MSFM’s current service offering includes both soft services such as housekeeping, security and catering as well as hard services such as engineering and water management. Some of MSFM’s clients include CapGemini, Cisco and Titan Industries.
With the IDFC fresh investment, MSFM will launch student hostel facilities at Manipal University Jaipur and TA Pai Management Institute in Manipal, followed by projects for Manipal Global Education Services banking training vertical in Bangalore.
MSFM is also looking to manage hostels of other institutions as a third party operator.