Baring Private Equity Asia

Baring Private Equity Asia is one of the largest and most established private alternative investment firms in Asia, with total committed capital of over USD16 billion. The firm runs a pan-Asian investment program, sponsoring buyouts and providing growth capital to companies for expansion or acquisitions, as well as a private credit and a pan-Asian real estate private equity investment program. The firm has been investing in Asia since its formation in 1997 and has over 160 employees located across offices in Hong Kong, China, India, Indonesia, Japan and Singapore. BPEA currently has over 30 portfolio companies active across Asia with a total of 158,000 employees and sales of approximately USD30 billion.

Tom Addison



Kenneth Albolote



Dar Chen

Senior Advisor


Kenneth Cheong



Patrick Cordes

MD and COO

Mark Fogle


Jack Hennessy



Kanchan Jain



Kosmas Kalliarekos



Kosmo Kalliarekos


Han Chul Kim


Malcolm Lai



Charles Lam


Alex Lee



Nicholas Macksey



Jimmy Mahtani



Tadashi Maruoka



Shane Predeek


Jean Eric Salata

Chief Executive and Founding Partner

Gordon Shaw



Nick Thorn

Director, Investor Relations


Edward Yang

Operating Partner

Past deals in South East Asia

The CrownX

Private Equity Round in 2021
The Crown X is an integrated consumer-retail platform.

NIIT Technologies

Post in 2019
Coforge is a global IT solutions and services organization which believes that real transformation cannot be driven by thinking in technology terms alone. With a mission to “Transform at the Intersect” it aims to bring both deep domain and deep emerging technologies expertise to achieve real-world business impact. A focus on very select industries, a detailed understanding of the underlying processes of those industries and partnerships with leading platforms provides us a distinct vantage. We leverage AI, Cloud and Insight driven technologies, allied with our industry expertise, to transform client businesses into intelligent, high growth enterprises.


Series A in 2004
Noah Education Holdings Ltd. provides private education services in China. The company operates and manages private kindergartens, and private primary and secondary schools. It also offers supplemental English language training services for children aged between 2 and 18 through its 10 directly-owned training centers in Changsha and Datong; and approximately 600 franchised training centers. The company provides its services primarily under the Noah, Little New Star, Wentai, Qingan, and Yuanbo Education brands. As of June 30, 2013, its kindergarten network consisted of 49 kindergartens with a total student enrollment of approximately 12,700, as well as 1,970 teachers and staff members. The company was founded in 2004 and is headquartered in Shenzhen, China. As of July 30, 2014, Noah Education Holdings Ltd. was taken private.

Ria Health, P.C.

Series A in 2022
Ria Health, P.C. develops an alcohol addiction treatment and care mobile platform. The company offers a tool that helps users and physicians to connect and have one-on-one interactions with addiction specialists as well as daily support to accomplish goals and improve user's overall well-being. The company was founded in 2013 and is based in San Francisco, California.

Lumenis Aesthetic Division

Acquisition in 2019
The Lumenis surgical laser division is a global leader in advanced medical laser equipment and surgical laser technology. Lumenis is a pioneer in the field of laser for surgery and its cutting-edge devices are being used by top medical professionals and facilities around the world. The company Provides Urology laser, Gynecology laser, ENT laser and more systems for medical applications.


Series A in 2001
Sipix is a leader in the manufacturing and delivery of digital imaging appliances for the consumer market. The company's portfolio of innovative and intuitive image capture and image output products provides a complete product and service chain, from capture to print, and from hardware to media, through trend setting designs, thus enabling the sharing of images instantly and globally, at an affordable price for everyone.
Beijing Galloping Horse Film & TV Production Co., Ltd. produces and distributes films, TV series, and TV advertising solutions. It has a strategic partnership with Digital Domain Media Group, Inc. Beijing Galloping Horse Film & TV Production Co., Ltd. was founded in 2003 and is based in Beijing, China.

CMS Info Systems

Acquisition in 2015
CMS is uniquely positioned as India’s largest cash management services company. More than 50% of the cash in the entire country is moved by us. We provide safe and secure ATM management, cash delivery and pick-ups, cash-in-transit, dedicated cash vans, currency chest support, cash processing and sorting, and cashiering services. CMS Info Systems Ltd. was formed in 2009 following an investment by the Blackstone Group to acquire majority stake in certain key businesses of CMS Computers (founded by the late Mr. Ramesh Grover family in 1976). In 2011, CMS Info Systems Ltd. acquired Securitrans India Private Limited (SIPL), the second largest cash management company in India, thus consolidating its position as the leading cash management services company in India.

Lafarge India

Private Equity Round in 2013
Lafarge India Private Limited is a cement company in East India and a subsidiary of publicly listed French global cement leader Lafarge S.A., the second largest cement producer in the world and a leader in sustainable development.

Virtuos Corporation

Private Equity Round in 2021
Founded in 2004, Virtuos is a leading video game content production company with operations in China, Vietnam, Canada, France, Japan, Ireland and the United States. With 1,500 full-time professionals, Virtuos specializes in game development and AAA 3D art production for consoles and mobile titles, enabling its clients to generate additional revenue and achieve greater operational efficiency.

SPi Global

Acquisition in 2021
Global Solutions. Multinational Platform. SPi Global is one of the world's largest and most diversified Business Process Outsourcing (BPO) service providers in terms of clients, geographic presence, and capabilities. We have defined the highest standards of excellence together with our clients for Knowledge Process Outsourcing (KPO) and Customer Relationship Management (CRM). Our global team of over 18,000 dedicated BPO professionals makes this possible. We are also proud to let you know that SPi Global has been the "BPO Company of the Year" for 2011, a recognition given by the International ICT Awards. For more than 30 years, we have been offering Fortune 500 companies a full roster of high-quality, innovative end-to-end solutions. Our clients look to us for: a wide range of voice and non-voice BPO solutions the broadest global delivery network with 30 locations spanning North America, Netherlands, Australia, India, Vietnam, and the Philippines. the ability to effectively combine deep domain knowledge with our core capabilities to deliver high quality, single source solutions that provide cost efficiencies, scalability, and exceptional customer care. One Vision. Multiple Competencies. SPi Global provides domain expertise in the Customer Interaction, Healthcare, and Publishing markets. We also provide services across a wide range of industries, including banking and financial services, government, information technology, media, not-for-profit organizations, retail, and travel. Through our key competencies, we support the vibrant BPO industry worldwide. Established. Evolving. Exceptional. Welcome to SPi Global. The future of BPO.

JD Logistics

Series A in 2019
JD Logistics offers supply chain and logistics services for e-commerce industry. It offers supply chain solutions including warehousing, transportation, order sorting, loading into truck, order delivery, and after-sale services. JD Logistics operates an unmanned sorting center, and it also uses drones to deliver online purchases to rural shoppers. It began operation on April 25, 2017, with its headquarters in Beijing in China, and it operates as a subsidiary of

K. S. Oils

Post in 2009
K. S. Oils provides integrated edible oil company serving millions of customers with its trusted brands and health friendly products. K S Oils is a leading integrated edible oil company and is the trusted name behind renowned brands like Kalash, Double Sher, K S Gold, among others. Our consumer brands and products in mustard oil, soybean oil and palm oil are a household name with Indian consumers who use our oils regularly as a healthy cooking medium. A leader in mustard oil in India, K S Oils today enjoys 11% market share in the overall mustard oil segment with a dominant 25% market leadership in branded mustard oil.

Weetabix Limited

Private Equity Round in 2015
Weetabix East Africa Limited manufactures and markets breakfast cereals in East Africa. The company offers breakfast cereals and flakes, mueslis, snack bars, minis, chocolatey wholegrain cereals, fruits and fibers, and oat flakes. It sells its products through supermarkets and neighborhood shops. The company is headquartered in Nairobi, Kenya. Weetabix East Africa Limited operates as a subsidiary of Weetabix Limited.

SAI Global

Acquisition in 2016
SAI Global is a recognized leading provider of integrated risk management solutions, assurance, and property services. We help organizations protect their brands by proactively managing risk to achieve business excellence, growth, sustainability, and trust. We have a history rich in the development of innovative business solutions that goes back almost 100 years. Today this tradition of innovation continues with industry-leading products and solutions in our core business areas of risk management software, standards aggregation, regulatory content, ethics and compliance learning, risk assessments, certification, testing and audits. For more information, visit our company site at or our career site.

Wall Street English

Acquisition in 2017
Wall Street English is the world’s leading English language training network delivering English language learning to adults and is recognised as a leading blended learning platform that provides a premium lifestyle experience to its students. WSE’s success is underpinned by a strong brand, a track record of growth and innovation over its 46-year history. In 2016 the business served 180,000 learners through 70 corporate owned centres in China, nine corporate owned centres in Italy and 321 franchised centres across 28 territories.

Nord Anglia Education, Inc.

Acquisition in 2017
Nord Anglia Education is a premium schools organisation. They are a global family of 42 international schools educating over 32,000 students from pre-school to the end of secondary education. Their schools deliver a high quality education through a personalised approach enhanced with unique global opportunities to enable every student to succeed, academically, socially and personally. They are amongst the most respected international schools in their locations and they are committed to ensuring that they remain the first choice for parents around the world.

Amsino International Inc.

Private Equity Round in 2008
Amsino Medical Group is a US-domiciled private company that develops, manufactures, and markets FDA Class I and Class II medical disposable products. Amsino markets its products under the AmSure brand as well as providing contract manufacturing services.

Pioneer Corporation

Debt Financing in 2018
Pioneer Corporation is a global manufacturer of electronic products for the consumers and professional markets. It manufactures and sells audio and video equipment for household, industrial, and automobile use. The company produces and sells visual and music software and media such as DVDs and CDs. It also provides car electronics, AVRs, laserdisc players, plasma computer monitors and televisions, Blu-ray disc players, technical audio devices, DJ equipment, and a wide range of sound systems. Pioneer Corporation is headquartered in Japan. The company was founded in 1938 by Nozomu Matsumoto. It was acquired by KKR & Co. on September 16, 2014.

TELUS Corporation

Post in 2016
TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company’s telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and cloud-based services; healthcare solutions; customer care and business services; and home and business smart security solutions. As of October 7, 2020, it had 15.4 million customer connections covering wireless, data, IP, voice, television, entertainment, video, and security. The company was formerly known as TELUS Communications Inc. and changed its name to TELUS Corporation in February 2005. TELUS Corporation was founded in 1993 and is based in Vancouver, Canada.


Acquisition in 2015
Vistra Marine & Aviation Ltd. acquires, operates, manages, and leases yachts. The company was formerly known as DF Marine Consultancy Limited and changed its name to Vistra Marine & Aviation Ltd. in December 2015. Vistra Marine & Aviation Ltd. is based in the United Kingdom. As of December 11, 2015, Vistra Marine & Aviation Ltd. operates as a subsidiary of Vistra Holdings S.à r.l.

Bushu Pharmaceuticals Ltd.

Acquisition in 2014
Bushu Pharmaceuticals Ltd. provides pharmaceutical and clinical trial contract manufacturing services in Japan and internationally. It offers lifecycle management services ranging from pre-formulation, analytical, and formulation development to clinical trial supplies, scale-up, and commercial manufacturing; manufacturing and packaging of solid dosage forms, such as tablets, granules, fine granules, powder, and capsules; and quality control and quality assurance services. The company engages in manufacturing and packaging products for clinical trials; and inspection, labeling, and packaging of bottles, vial, ampule, tubes, syringes, etc. The company was founded in 1998 and is based in Saitama, Japan. As of March 8, 2010, Bushu Pharmaceuticals Ltd. operates as a subsidiary of TMC BUYOUT1 Co., Ltd.

LightSand Communications

Venture Round in 2002
LightSand understands the business-critical needs of its customers and offers the highest quality technical support. They have a dedicated network of professional engineers and technicians who provide technical support to handle all hardware, software and professional service needs. As a LightSand customer, you will have the assurance that your technical issues will be resolved in a timely and efficient manner to help you keep your business running smoothly.

LightSand Communications

Venture Round in 2005
LightSand understands the business-critical needs of its customers and offers the highest quality technical support. They have a dedicated network of professional engineers and technicians who provide technical support to handle all hardware, software and professional service needs. As a LightSand customer, you will have the assurance that your technical issues will be resolved in a timely and efficient manner to help you keep your business running smoothly.

National Resilience, Inc.

Venture Round in 2006
National Resilience, Inc., doing business as Resilience, operates as a biopharmaceutical manufacturing and technology company that provides end-to-end manufacturing and development solutions. It focuses on investing in developing new manufacturing technologies across various therapeutic modalities, including cell and gene therapies, viral vectors, vaccines, and proteins. The company was incorporated in 2020 and is based in La Jolla, California.

Cath Kidston

Acquisition in 2016
Founded in 1993 with a single shop in London’s Holland Park, Cath Kidston is today a fast-growing global lifestyle brand with stores in China, France, Hong Kong, Indonesia, Japan, Korea, Malaysia, Singapore, Spain, Taiwan, Thailand and the UK. In July 2014, Cath Kidston opened its 100th overseas store in Seoul, South Korea, bringing the total number of stores to 166. Known as the “home of modern vintage”, the brand offers a range of products from accessories and womenswear to childrenswear and home furnishings. In the year ended 30 March 2014 Group sales increased 10% to £116 million with EBITDA rising 19% to £25 million. International retail sales increased 37% to £46 million.

Pratibha Syntex

Private Equity Round in 2007
Pratibha Syntex Pvt. Ltd. manufactures textile products in India. It engages in organic cotton farming; manufacture of cotton, organic cotton, fair trade cotton, recycled cotton, viscose, modal, lyocell, polyester, recycled polyester, Tencel, wool, linen, and their blends; and knitting and dyeing performance, recycled cotton, basics, and blended fabrics. The company also produces garments, such as inner wear, active wear, casual/street wear, and hi-fashion products. Pratibha Syntex Pvt. Ltd. was incorporated in 1982 and is based in Mumbai, India.

Virtusa Corporation

Acquisition in 2020
Virtusa Corporation provides digital engineering and information technology (IT) outsourcing services primarily in North America, Europe, and Asia. The company offers business and IT consulting services, including advisory/target operating model, business process re-engineering/business process management, application portfolio rationalization, and business/technology alignment analysis; digital transformation services, such as digital strategy user experience and design, application and platform engineering analytics, intelligent automation content and customer experience, and cyber security; and cloud transformation services comprising cloud strategy and migration, cloud native applications, and capex to opex models. It also provides application development, software product engineering, CRM and SAP implementation, content management, enterprise mobility, cloud computing, social media, and cloud engineering solutions; systems consolidation and rationalization, technology migration and porting, and Web-enablement of legacy applications; data management, business intelligence, reporting and decision support, master data management, data integration, big data analytics, data lake, and data on the cloud services; and software quality assurance and managed testing services. In addition, the company offers application enhancement, maintenance, and support, and cloud-environment management and support; managed infrastructure, and remote application monitoring and support services; and IT efficiency improvement services. Further, it offers digital engineering and operational excellence services-based, and transformational solutions. Virtusa Corporation serves communications and technology; banking, financial services, and insurance; and media and information industries. The company was formerly known as eRunway, Inc. and changed its name to Virtusa Corporation in April 2002. Virtusa Corporation was founded in 1996 and is headquartered in Southborough, Massachusetts.

HCP Packaging

Acquisition in 2015
HCP is a global leader in the design, development and manufacture of prestige primary packaging containers for the cosmetics, skincare and fragrance industries. HCP’s product portfolio includes standard and customised compacts, lipsticks, mascaras, lip gloss, pots, skincare jars, tubes and bottles, fragrance closures and other cosmetic items. With an enviable reputation for innovation, creative technology and state of the art manufacturing, HCP is professionally supported and represented by its own regional and local offices, providing customers with direct and immediate access, feedback and solutions.

TELUS International, Inc.

Private Equity Round in 2016
TELUS International is a global provider of customer service, IT, and business process services with more than 22,000 team members around the world, including in the United States, Canada, Europe, Central America and Asia. With over 175 million customer interactions supported annually via voice, email, chat and social media, across the telecommunications, utilities, high tech, gaming, finance, retail, e-commerce, travel and logistics, and health care industries, TELUS International enables customer experience innovation through spirited teamwork, agile thinking, and a caring culture that puts customers first. As the global arm of TELUS (TSX:T)(NYSE:TU), TELUS International is backed by a leading national telecommunications company in Canada, with US$10 billion of annual revenue and 12.4 million customer connections.

Rithwik Projects

Private Equity Round in 2008
Rithwik Projects Pvt. Ltd. provides construction and infrastructure development and management services in India. It handles irrigation, highway, building, railway, hydro power, and solar power projects. The company was founded in 1999 and is based in Hyderabad, India. As of February 28, 2010, Rithwik Projects Pvt. Ltd. operates as a subsidiary of M/S Kohinoor Hatcheries P Ltd.

Celetron International

Private Equity Round in 2001
Celetron is India's largest exporter of electronics, with over 20 years of experience in delivering complete end-to-end solutions for electronic OEMs. As a technology leader, the Company focuses on providing world-class engineering solutions in a cost-effective manner. Celetron's services include: precision electro-mechanical assembly (including optical components); PCB and memory-module test and assembly; the manufacture of power conversion equipment and RFID products; box-build and systems integration; and the supply of design, engineering and other prototype services.

St. George's University

Private Equity Round in 2014
St. George’s University is an educational institution that offers graduate and under graduate programs in the field of medicine, veterinary, arts and science, and public health management. The institution was formerly known as St. George's University School of Medicine. St. George’s University was founded in 1976 and is based in Saint George's, Grenada.


Acquisition in 2019
CitiusTech is a leading healthcare technology services and solutions provider, partnering with over 50 leading healthcare organizations worldwide. A Red Herring Technology Award winner, CitiusTech today has over 1,400 healthcare technology professionals worldwide. CitiusTech’s unique offerings and execution excellence has enabled it to grow by over 55% per year over the last five years. CitiusTech has been awarded the Best Companies to Work Award in 2012 and 2013, by the Great Place to Work Institute® - in recognition of its ability to recruit, groom and retain exceptional healthcare technology professionals. It has been awarded the 2013 Indo-American Corporate Excellence Award in the area of technology and communication. CitiusTech is closely associated with industry organizations like HIMSS and HL7, and is also a member of the prestigious CHIME Foundation.
COFCO is the largest supplier of diversified products and services in the agricultural products and food industry in China. It is devoted to utilizing renewable natural resources to provide healthy and nutritious food, high quality lifestyle and services, as well as contributing to improve people’s living standards, social prosperity and stability. COFCO plays a pivotal role as a bridge in the markets of edible oils and foodstuff between China and the world, and serves as the main importing and exporting channel for bulk agricultural products such as wheat, corn, rice and sugar. As an investment holding company specialized in trade and processing of oil and foodstuff as well as other businesses, COFCO continuously strives to upgrade its oil and foodstuff chains, which include those of oils and oilseeds, corn, wheat, rice, wine, tomatoes, dairy products, meat, barley, tea, chocolate and various other products. In light of China's economic growth, return on shareholders’ value and available business resources, COFCO is also involved in the development of real estate, hotels, non-grain bio-energy, packaging, finance and other industries.


Series C in 2001
RapidStream uses patent-pending RapidCore technology to deliver integrated virtual private network (VPN) and firewall solutions to service providers, data centers and enterprises that require a high degree of interoperability, scalability and security.