TPG NewQuest and A91 Partners Acquire Citykart from Investcorp

GIC and Temasek Acquire Significant Stake in Novotech as TPG Reinvests

March 31, 2025

Healthcare Services

Affiliates of GIC and Temasek have signed binding agreements to acquire a significant stake in Novotech, with existing investor TPG Asia reinvesting. The capital will support Novotech's global growth — including expansion in the US, Europe and APAC — and enable further organic investment and transformative M&A.

TPG Acquires 99.02% Stake in Poonawalla Housing Finance

July 27, 2023

Financial Services

TPG, through its Asia-focused private equity platform TPG Capital Asia, has completed the acquisition of a 99.02% equity stake in Poonawalla Housing Finance Limited from Poonawalla Fincorp Limited and will infuse up to INR 1,000 crore of additional equity to support growth. PHFL is a pan‑India affordable housing finance company with a deep branch network and ~Rs. 6,571 crore AUM (Jun'23); TPG intends to partner with existing management to scale the business in the affordable housing segment.

K1 Speed Acquires Capital Karts

May 9, 2024

Restaurants & Hospitality

K1 Speed, the US-based indoor electric karting operator, has acquired Capital Karts, a London-based indoor go-kart operator. The deal gives K1 Speed an entry point into the UK and supports its broader European expansion plans with immediate operations in Canary Wharf and additional London, Birmingham and Glasgow sites under development.

Investcorp Leads INR 340 Crore Growth Investment in Canpac Trends

December 14, 2023

Packaging

Investcorp has led an INR 340 crore (approximately $41 million) growth investment in Canpac Trends, a paper-based packaging manufacturer headquartered in Ahmedabad. The transaction provides a partial exit to JM Financial India Fund II and will be used to expand Canpac’s production footprint across India, accelerate acquisitions and strengthen R&D.

Quadria Capital Leads $102M Investment in NephroPlus; Investcorp Partially Exits

May 7, 2024

Healthcare Services

Quadria Capital led a $102 million funding round in NephroPlus that combines primary capital and a secondary purchase of stakes from existing investors, including Investcorp, Bessemer Venture Partners, IFC and IIFL Private Equity. Investcorp retains a significant minority stake; the new capital will be used to fund organic growth in India and further international expansion of NephroPlus, Asia's largest dialysis service network headquartered in Hyderabad.

EQT (via Baring Private Equity Asia Fund VIII) Acquires PropertyGuru Group

August 16, 2024

Real Estate

EQT Private Capital Asia, via Baring Private Equity Asia Fund VIII managed by EQT, has completed the acquisition of PropertyGuru Group Limited for USD 6.70 per share, valuing the company at approximately USD 1.1 billion. PropertyGuru, the Singapore-headquartered PropTech marketplace serving Southeast Asia, will be taken private to accelerate technology development, expand market reach, and improve operational efficiency under EQT's ownership.