Standard Chartered Private Equity invests USD52m in
L Capital Asia’s Crystal Jade Group
25 June 2015, Singapore – Standard Chartered Private Equity (“SCPE”) has invested USD52 million in Crystal Jade Group Holdings (“Crystal Jade”), an L Capital Asia portfolio company and one of Asia’s premier diversified Food and Beverage groups. The investment will primarily go towards funding the growth of Crystal Jade’s existing network of outlets across Asia, as well as the expansion of its footprint internationally.
Crystal Jade operates over 100 outlets ranging from fine dining, casual and specialty restaurants to bakeries across the Asia Pacific region with a primary focus in Singapore, Hong Kong and Mainland China. Established in the early 1990s, it has become a household name in Chinese cuisine, with its outlets renowned for exceptional food quality and excellent customer service, winning acclaim from top global F&B publications.
Ravi Thakran, Managing Partner of L Capital Asia, commented, "We have had a successful history of creating value on other assets with SCPE and warmly welcome them as our co-investors in Crystal Jade. Their investment will further strengthen the resources available to allow full exploitation of the tremendous growth opportunity for Crystal Jade."
Nainesh Jaisingh, Global Co-Head of Private Equity at SCPE, said, “Crystal Jade is an exciting business, with a strong Asian brand and significant potential across Standard Chartered’s footprint. We are delighted to join L Capital Asia – with whom we have had a very successful association – and look forward to building a great company together.”
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For further information please contact:
Sanjay Gujral
Regional Managing Director
L Capital Asia
Tel: +65 6672 7617
Email:
Valerie Tay
Standard Chartered Bank
Tel: +65 6596 69284
Email:
Note to Editors:
L Capital Asia
L Capital Asia is the Asian private equity businsess sponsored by LVMH Moët Hennessy Louis Vuitton S.A. (LVMH). It was launched in 2009 and the firm conducted a final close of its first private equity fund at US$ 637 million in December 2010 and of its second private equity fund at US$ 1,005 million in August 2014.
L Capital Asia invests in lifestyle consumer businesses across Asia, adopting a triple A strategy aimed at the Aspirational, Affordable and Alternative segments. It focuses on businesses that will benefit from growing discretionary consumption in Asian markets, across select sectors of lifestyle consumption.
Standard Chartered Private Equity
Standard Chartered Private Equity ("SCPE") is the private equity arm of Standard Chartered Bank. SCPE invests in companies in need of expansion capital or acquisition finance, and in management buy-outs. SCPE focuses on companies whose principal operations and management are located in Asia, Africa or the Middle East. It is an active partner that provides board-level strategic advice and access to the international network of Standard Chartered Bank, and since inception has invested about US$6 billion in over 100 companies across the bank’s footprint.
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