HONG KONG, October 27, 2015 /PRNewswire/ --
Baring Private Equity Asia ("Baring Asia"), one of Asia's largest and most established independent private equity firms, has today completed the deal announced in May to acquire a majority stake in Vistra Group (following regulatory approvals). This change of investor from the previous majority stakeholder, IK Investment Partners ("IK"), does not affect the ongoing operations of Vistra Group, whose management team will continue to hold a significant shareholding in the company.
Advising funds that manage more than USD9 billion in committed capital, Baring Asia runs a pan‐Asian investment program, sponsoring management buyouts and providing growth capital to companies for expansion or acquisitions, making it a perfect partner to support and enhance Vistra Group's continued growth.
Commenting on the completion, Martin Crawford, CEO of Vistra Group, said, "Our partnership with Baring Asia brings a new and exciting chapter for the Vistra Group. With their support, we can continue the success and growth of the firm to the satisfaction of our clients, our employees and our shareholders. We very much look forward to what lies ahead.
"I would like to thank IK for their help in building the Vistra Group into the successful business it is today. Under their stewardship, we have become one of the global market leaders in our industry, of which we and they can be hugely proud."
Jean Eric Salata, Founder and CEO of Baring Asia, added, "Vistra Group has an impressive track record, which has resulted in its position as one of the industry leaders. We are delighted to be partnering with Vistra Group to build on its success and drive it forward into a new era."
About Vistra Group
Ranked among the top four corporate service providers globally, Vistra Group is a versatile group of professionals, providing a uniquely broad range of services and solutions. Our capabilities span across company formations to trust, fiduciary and fund administration services. Comprising two key brands, Vistra and OIL, the Group employs over 1,300 employees in 46 offices across 35 jurisdictions.
About Baring Private Equity Asia
Baring Private Equity Asia is one of the largest and most established independent private equity firms in Asia and advises funds that manage more than USD9 billion in committed capital. The firm runs a pan‐Asian investment program, sponsoring management buyouts and providing growth capital to companies for expansion or acquisitions.
The firm has been investing in Asia since its formation in 1997 and has over 120 employees located across seven offices in Hong Kong, Shanghai, Beijing, Mumbai, Singapore, Jakarta and Tokyo. Baring Asia currently has over 30 portfolio companies across Asia with a total of 95,000 employees and sales of approximately USD30 billion in 2014.
For more information, please visit: http://www.bpeasia.com
SOURCE Vistra Group