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...
PAI Capital, a Hong Kong and London-based asset manager that primarily caters to high net worth individuals (HNWIs), has paid RMB1.45 billion ($212 million) for a 24.22% stake in Vtron Group, a Shenzhen-listed video display systems manufacturer.
Vietnam’s VinaCapital and Japan’s Daiwa PI Partners have sold the remainder of their interest in Vietnamese dairy producer International Dairy Products (IDP).
A consortium led by China Resources Capital (CR Capital) has agreed to acquire a 65% stake in Hong Kong retail and supermarket operator City Super Group.
Indian online used car marketplace Spinny has acquired local counterpart Truebil, setting up several venture capital exits.