Each of the world's four largest corporate service providers, which assist with the formation and administration of companies, trusts and funds, has a private equity backer. They are supplying the firepower for a round of consolidation that could see these industry leaders enjoying a level of dominance akin to that of the Big Four accounting firms.
TMF, a Doughty Hanson portfolio company since 2008, is the largest, having absorbed the likes of Equity Trust and KCS. It is followed by Intertrust, which was bought by The Blackstone Group in 2012 and...
Temasek Holdings, Cathay Capital Private Equity, and Haochen Capital have led a $55 million Series B round for WeNext Technology, a China-based 3D printing specialist.
SoftBank Vision Fund 2 has made a Series D investment of undisclosed size in Japan’s Soda, operator of sneaker reselling platform Snkr Dunk, at a valuation of JPY38 billion ($336 million).
Singapore’s LingoAce, a Chinese language learning app, has raised $105 million in Series C funding led by Sequoia Capital India. It comes within a year of a $55 million Series B.
CVC Capital Partners is supporting a proposed founder-led privatization of Hong Kong-listed gaming hardware and software provider Razer that values the business at HK$24.7 billion ($3.17 billion).