Capital Square Partners and Basil Technology Partners Launch One of Asia’s Largest Funds Dedicated to Technology Services
SINGAPORE, January 19, 2023 (GLOBE NEWSWIRE) — Capital Square Partners (“CSP”) and Basil Technology Partners (“BTP”) (collectively, “GP” or “Team”), based in Singapore2 The two private equity firms today announced a new partnership and the successful closing of an approximately US$700 million fund (“CSP Fund II” or “Fund”). CSP Fund II, possibly the first transaction in Asia, draws funds from funds managed by HarborVest Partners (“HarbourVest”), TPG NewQuest, Committed Advisors and other institutional investors (collectively, “Investors”). procured. ), which acquires a portfolio of companies from GP’s existing funds under management and provides capital to the expanded platform for follow-on and new investments (“Transactions”). The team will operate under his existing CSP platform and aims to build on a successful track record of investments in global technology services companies. HarborVest and TPG NewQuest jointly led the transaction. HarborVest led the construction of the deal.
The deal is believed to have established one of the largest dedicated technology services funds in Asia, and the combination of CSP and BTP teams will greatly enhance the execution capabilities of the platform. The team consists of Sanjay Chakrabarty, Rajeev Srivastava, Mukesh Sharda, Bharat Rao (Executive Director) and Sameer Kanwar. Over the past decade, the team has managed his AUM of over US$1.3 billion and has operated and exited multiple companies in the technology services space, including Minacs, Indecomm and GAVS Technologies.
Partner Sanjay Chakrabarti said: We believe these sectors will continue to demonstrate strength and resilience throughout the economic cycle and present attractive investment opportunities for CSP Fund II. We look forward to continued partnerships with best-in-class founders and companies. ”
Partner Rajeev Srivastava added: We are grateful to have HarborVest as our capital partner as we embark on a new phase of growth for our portfolio companies and appreciate the strong support from TPG NewQuest and Committed Advisors. We look forward to running our pipeline of exciting opportunities with CSP Fund II. ”
UBS Private Funds Group has provided advice on this transaction.
Dechert acted as legal counsel to Capital Square Partners and the fund, and Debevoise & Plimpton advised the investors.
About Capital Square Partners
Founded in 2014 and based in Singapore, Capital Square Partners is a private equity firm that invests in technology and business services in Southeast Asia and India. Since its inception, Capital Square Partners has completed more than US$500 million of his investments in cross-border businesses with multinational operations and is a value-oriented investment firm focused on complex situations requiring operational intervention. Adopt an investment style. Capital Square Partners holds a Capital Markets License from the Monetary Authority of Singapore in accordance with the Securities and Futures Act of the Government of Singapore. For more information, please visit www.capitalsquarepartners.com.
About Basil Technology Partners
Founded in 2008 and based in Singapore, Basil Technology Partners is a private equity firm that invests in niche technologies disrupting the IT services sector. Basil Technology Partners has a core operating team that represents the culmination of his 70+ years of experience in running IT services businesses, with a focus on growth stage technology companies where he has completed over US$200 million in investments. bottom. A unique foundation for creating off-market trades with attractive entry multiples.
HarborVest is an independent global private markets company with 40 years of experience and over US$103 billion in assets under management as of September 30, 2022. Real Assets and Infrastructure, and Private Credit. Our strengths span across strategies delivered by his team of over 1,000 employees, including his over 200 investment professionals in Asia, Europe and the Americas. Across our private market platform, our team has committed over US$53 billion to newly established funds, completed over US$44 billion in secondary purchases, and delivered over US$32 billion directly to operating companies. invested. We strategically partner and plan innovative services to provide our clients with access, insight and global opportunities.
About TPG New Quest
TPG NewQuest is a leading Asia-Pacific focused secondary private equity platform with offices in Singapore, Hong Kong, Beijing, Mumbai and Shenzhen. TPG NewQuest specializes in providing strategic liquidity solutions to private equity asset owners such as private equity funds, financial institutions, corporations, hedge funds and family offices. Founded in 2011, TPG NewQuest currently manages five funds and related co-investment vehicles with a capital commitment of over US$2.8 billion. TPG NewQuest is a wholly owned company of TPG, Inc., a leading global alternative asset management company with over US$135 billion in assets under management as of September 30, 2022. For more information, please visit www.nqcap.com.
About Commit Advisor
Committed Advisors is a global independent private equity firm with over US$5 billion in assets under management. The firm has completed over 150 transactions since its inception in 2010 and has deep experience in the private equity secondary market. With offices in Paris, New York and Singapore, Committed Advisors offers a wide range of solutions to investors and general partners seeking liquidity or liquidity. A new option for private equity assets. For more information, please visit www.committedadvisors.com.