Hillhouse Investment, the private equity firm best known for making bets on China’s up-and-coming startups, has acquired Singapore-headquartered corporate solutions and business advisory firm InCorp Global from TA Associates, according to a company announcement on Thursday.
Boston-headquartered TA Associates acquired InCorp Global from EQT Partners in 2021.
The latest deal will help InCorp’s growth across APAC and Europe by expanding service capabilities and funding new acquisition opportunities, the firm said in the statement.
InCorp provides corporate solutions and professional services in Asia Pacific. Headquartered in Singapore, the company also has a presence in Indonesia, Malaysia, Vietnam, Philippines, Australia, India, and Hong Kong, employing over 1,200 professionals.
Founded by Chinese-born investor and philanthropist Lei Zhang in 2005 with initial funding from Yale University, Hillhouse is one of the world’s largest private alternatives managers, with over $73 billion in assets under management on behalf of leading institutional clients in the Americas, Asia, Europe, and the Middle East.
Recently, Hillhouse is said to be one of the final few bidders to take over two other Singaporean companies including traditional Chinese medicine chain Eu Yan Sang International for $700 million, as well as medical equipment supplier Everlife Holdings for up to $1 billion, according to Reuters reports.
Last month, Hillhouse also wholly acquired biodiesel manufacturer SK Eco Prime, deepening its presence in South Korea after its previous acquisition of SK Chemical and investment in SK On.