Wikipedia
BPEA EQT
BPEA EQT (formerly known as Baring Private Equity Asia and BPEA) is an Asian private equity firm. Previously it was an affiliate of Barings Bank before becoming an independent firm. In 2022 it was acquired by EQT Partners to act as its Asian investment platform. It is one of the largest private equity firms in Asia.[2][3]
| Formerly | Baring Private Equity Asia BPEA |
|---|---|
| Type | Subsidiary |
| Industry | Investment Management |
| Founded | 1997 |
| Founders | Jean Eric Salata |
| Headquarters | 2IFC, Central, Hong Kong |
| Products | Private Equity Real Estate Private Credit |
| AUM | €$22.1 billion (Q3 2022)[1] |
Number of employees | 225 (2022)[1] |
| Parent | EQT Partners |
| Website | https://www.bpeasia.com |
History
Baring Private Equity Asia (BPEA) was founded in 1997[4] as a subsidiary of Baring Private Equity International (BPEP International)[5] which was an affiliate of Barings Bank. In addition to BPEA, the affiliates of BPEP International include Baring Vostok Capital Partners, Baring Private Equity Partners India and GP Investments.
In 2000, Jean Eric Salata led a management buyout of BPEA leading it to be established as an independent Firm.[5][6]
In 2016, Affiliated Managers Group acquired a 15% minority stake in BPEA.[7][8]
In 2017, BPEA launched it's Credit investment unit in India after acquiring the Credit unit of Religare Global Asset Management.[9]
In March 2022, EQT Partners acquired BPEA for $7.5 billion.[10] On October, the acquisition was complete and the firm was renamed to BPEA EQT.[1][11]
Business overview
BPEA EQT mainly focuses on the Asia Pacific Region. It has three investment strategies which are:[12]
- Private Equity
- Real Estate (operates under the EQT Exeter brand)
- Credit (operates as BPEA Credit that focuses on India)
BPEA EQT has offices in Beijing, Hong Kong, Mumbai, Seoul, Shanghai, Singapore, Sydney and Tokyo.[11]
Funds
Private Equity
| Fund[13] | Vintage Year | Committed Capital ($m) |
|---|---|---|
| Baring Asia Private Equity Fund | 1999 | USD 305 |
| Baring Asia Private Equity Fund II | 2002 | USD 257 |
| Baring Asia Private Equity Fund III | 2005 | USD 490 |
| Baring Asia Private Equity Fund IV | 2008 | USD 1,515 |
| Baring Asia Private Equity Fund V | 2011 | USD 2,460 |
| Baring Asia Private Equity Fund VI | 2015 | USD 3,980 |
| Baring Asia Private Equity Fund VII | 2020 | USD 6,500 |
| Baring Asia Private Equity Fund VIII[14] | 2022 | USD 11,200 |
Real Estate
| Fund[13] | Vintage Year | Committed Capital ($m) |
|---|---|---|
| Baring Asia Real Estate Fund | 2015 | USD 365 |
| Baring Asia Real Estate Fund II | 2018 | USD 1,000 |
Credit
| Fund | Vintage Year | Committed Capital ($m) |
|---|---|---|
| BPEA Credit – India Fund I | 2017 | USD 90 |
| BPEA Credit – India Fund II | 2019 | USD 140 |
| BPEA Credit – India Fund III | 2022 | USD 475[15] |
Portfolio companies
- Cath Kidston Limited[16]
- Clarivate Analytics[17][18]
- Coforge
- JD Health
- Kyobo Life Insurance Company Limited
- Nord Anglia Education[19][20]
- Pioneer[21]
- Prometric[22]
- RBL Bank[23][24]
- SAI Global[25]
- Shinhan Financial Group
- Solera
- St. George's University[26]
- TELUS International[27]
- Tricor[28]
- Virtusa
- Vistra[29]
Notable Transactions
- In 2011, BPEA EQT sold its holding in Hsu Fu Chi to Nestlé in a $1.7 billion deal.[30]
- In 2012, BPEA EQT successfully exited Courts Asia by listing it on the Singapore Stock Exchange.[31][32]
- In 2015, BPEA EQT acquired a majority stake in Vistra from IK Investment Partners.[29]
- In 2016, BPEA EQT and Onex corporation acquired the Intellectual Property & Science business of Thomson Reuters for $3.55 billion.[33]
- In 2017, Post Holdings acquired Weetabix Limited, UK based manufacturer of the Weetabix, Alpen and Ready Brek brands of breakfast cereals, from Bright Food and BPEA EQT for $1.4 billion.[34]
- In 2018, BPEA EQT sold its holding in PSB Academy to Intermediate Capital Group.[35]
- In 2020, BPEA EQT and CITIC Capital sold their holdings in Wall Street English to its original founder, Luigi Tiziano Peccenini.[36]
- In 2021, BPEA EQT acquired Virtusa for $2 billion.[37]
- In November 2021, BPEA EQT acquired Tricor from Permira in a $2.8 billion deal.[28]
- In September 2022, BPEA EQT explored merging two of its portfolio companies, Tricor and Vistra in a $8 billion deal.[29]
References
- ^ a b c Velezmoro, Sara. "EQT completes BPEA acquisition | bpea, eqt, merger, acquisition, jean salata, christian sinding, baring, pe, private equity, asia". FinanceAsia.
- ^ Reuters Staff (2020-01-21). "Baring Private Equity closes Asia buyout fund at $6.5 billion". Reuters. Retrieved 2021-02-20.
- ^ "Baring Private Equity Asia Donates HKD10 million to HKCSS to Support Families in Hong Kong Impacted by COVID-19". 香港社會服務聯會. Retrieved 2021-02-20.
- ^ "Baring Private Equity Asia Investor Profile: Portfolio & Exits | PitchBook". pitchbook.com. Retrieved 2021-02-20.
- ^ a b "Jean Eric Salata". privatebank.jpmorgan.com. Retrieved 2021-02-20.
- ^ "Jean Salata". Forbes. Retrieved 2021-02-20.
- ^ "AMG Announces Investment in Baring Private Equity Asia". BPEA. Retrieved 2021-02-20.
- ^ "New Details Emerge on AMG's Deal with Baring Private Equity Asia". Fortune. Retrieved 2021-02-20.
- ^ Ou, Christie (2017-02-07). "BPEA launches first India fund after Religare deal". Private Debt Investor. Retrieved 2021-09-04.
- ^ Dummett, Ben (2022-03-16). "EQT Buys Baring Asia Unit in $7.5 Billion Private-Equity Merger". Wall Street Journal. ISSN 0099-9660. Retrieved 2022-04-15.
- ^ a b "EQT takes over HK-based Baring Private Equity Asia". DealStreetAsia. Retrieved 2022-10-22.
- ^ "AMG | Baring Private Equity Asia". www.amg.com. Retrieved 2021-02-24.
- ^ a b "Baring Private Equity Asia | Palico". www.palico.com. Retrieved 2021-02-20.
- ^ Wu, Kane (2022-09-14). "Baring Private Equity raises $11.2 bln in one of Asia's largest buyout funds". Reuters. Retrieved 2022-09-25.
- ^ Velezmoro, Sara. "BPEA Credit closes $475 million fund, its largest to date | bpea, credit, eqt, india, debt, private credit, private equity, kachan jain". FinanceAsia. Retrieved 2022-11-08.
- ^ Vandevelde, Mark (2016-10-03). "Cath Kidston sold to Baring Asia". Financial Times. ISSN 0307-1766. Retrieved 2016-10-04.
- ^ Grant, Bob (2016-07-15). "Web of Science sold for more than $3 billion". The Scientist. Retrieved 2018-06-29.
- ^ "Acquisition of the Thomson Reuters Intellectual Property and Science business by Onex and Baring Asia completed" (Press release). Clarivate Analytics. PR Newswire. 2016-10-03. Retrieved 2018-06-29.
- ^ Badkar, Mamta (2017-04-25). "Canadian-led consortium to buy Nord Anglia for $4.3bn". Financial Times. Retrieved 2018-04-24.
- ^ Ruckin, Claire. "LPC-Nord Anglia sounds out investors on LBO financing". U.S. Retrieved 2018-04-24.
- ^ "UPDATE 3-Japan's Pioneer gets $540 mln lifeline from Baring as debt deadline looms". Reuters. 2018-09-12. Retrieved 2020-03-31.
- ^ https://report.partnersgroup.com/app/themes/partnersgroup-hyr18/documents/Interim_Report_Investments_2018_E.pdf[bare URL PDF]
- ^ Rebello, Joel. "Investors led by Baring PE put Rs 1566 crore into RBL Bank". The Economic Times.
- ^ Dhanjal, Swaraj Singh (21 August 2020). "Baring PE, others to invest ₹1,566 crore in RBL Bank". Livemint.
- ^ Pash, Chris (26 September 2016). "Baring Asia has grabbed Australia's SAI Global in a $1 billion deal". Business Insider Australia. Retrieved 13 July 2020.
- ^ "Altas partners with St. George's University". Altas Partners. Retrieved 8 April 2015.
- ^ "Telus Sells 35% Stake in Outsourcing Subsidiary to Baring Private Equity Asia". Nearshore Americas. 2016-05-06. Retrieved 2019-08-08.
- ^ a b "Private equity firm BPEA to buy Tricor from Permira in $2.8 billion deal". Reuters. 2 November 2021.
- ^ a b c "Baring PE Asia weighs US$8 billion merger of Hong Kong's Tricor and Vistra". South China Morning Post. 25 September 2022.
- ^ Davis, Anita (13 July 2011). "Nestle tables $1.7b offer for Hsu Fu Chi". AVCJ.
{{cite web}}: CS1 maint: url-status (link) - ^ Burroughs, Tim (9 October 2012). "Baring-backed Courts Asia targets $112m IPO". AVCJ.
{{cite web}}: CS1 maint: url-status (link) - ^ "Courts Asia IPO is a go". news.yahoo.com.
- ^ "Thomson Reuters Announces Definitive Agreement to Sell its Intellectual Property & Science Business". www.thomsonreuters.com. Retrieved 2021-02-20.
- ^ "Post Holdings Completes Acquisition of Weetabix". Post Holdings. 3 July 2017.
- ^ Lee, Jamie (23 January 2018). "PSB Academy acquired by UK-listed Intermediate Capital Group". The Straits Times.
- ^ Quinn, Callan. "Wall Street English sold back to original founder "at a deep discount"". thepienews.com.
- ^ "Baring Private Equity Asia Completes Acquisition of Virtusa". www.businesswire.com. 2021-02-11. Retrieved 2021-02-20.
External links
- Official website