Financial details of the sale to US strategic buyer Aetna were not disclosed. Alchemy bought into InterGlobal through a $60.7m investment alongside the company’s management in 2007.
It picked up a further $15m of investment from an unnamed $6bn reinsurer in 2011.
The company has more than 65,000 medical members worldwide, specifically targeting the Middle East, Asia, Africa and Europe.
Alchemy Partners published a PPM for its Special Opportunities Fund III last week according to PEI, which said the predecessor fund still has some capital remaining.
Hitting £600m will see the firm outstrip the £500m it gathered for Fund II in 2011, which at the time was the largest distressed debt vehicle in Europe raised since the financial crisis.
The firm closed its first turnaround fund on £300m in 2006.
In August Alchemy made a return of more than two-times by exiting its investment in Lloyd’s insurer Cathedral Capital to Bermuda-based company Lancashire Holdings.
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