Baring Private Equity Asia is to acquire a majority stake in Hong Kong-based Vistra Group, a provider of company formations, trust, corporate and fund administration services, according to a company announcement.
Vistra Group’s previous majority shareholder, European private equity firm IK Investment Partners, is selling its stakes.
No specific details of the transaction were disclosed, but the company’s management team will continue to hold a significant stake.
IK Investment Partners invested in the Vistra Group six years ago, and has helped the company quadruple its size to become the number one corporate administration service provider in Asia, and among the top four globally, says the announcement.
Baring Asia manages over US$9 billion in committed capital across its pan‐Asian investment program.