Baring Private Equity Asia buys 16.5% stake in Hsu Fu Chi

Oct. 30, 2009 (China Knowledge) - Baring Private Equity Asia Ltd, a private equity firm specializing in growth capital and management buyout investments in mid size companies, Thursday said it has spent US$135 million for a 16.5% stake in Singapore-listed Hsu Fu Chi International Ltd, Dow Jones Newswire reported.

Baring Private said the investment will benefit from the rising per capita confectionary consumption in China, which is still low compared with other countries.

Founded in 1992, Hsu Fu Chi International is principally engaged in producing and distributing its main products that are produced under Hsu Fu Chi brand.

The Hong Kong-based PE firm earlier invested US$42 million into PERA Global Holdings, a China-based software maker that specializes in computer-aided engineering technology.

Baring Private Equity Asia typically provides capital for expansion, recapitalizations, and liquidity to shareholders. The firm primarily invests in companies based in Asia Pacific with a focus on mainland China, India, Singapore, Japan, Hong Kong, and Taiwan.