Sun, Nov 23, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Private Equity Strategies

Sector Focus: Partners Group Takes Controlling Stake In CSS Corp for $270m – Eyes Emerging Markets

Tuesday, July 23, 2013

By: Bailey McCann, Private Equity Strategies

Partners Group, a Swiss investment manager, has acquired a majority stake in CSS Corp on behalf of its clients in a $270 million transaction. CSS Corp, is a global technology support services company. The company serves a client base in the US and Europe and has a large delivery presence in India, the US, the Philippines, Poland, Mauritius, Costa Rica and China.

"We have a high opinion of the management team, and have conviction about the business’ growth potential,” Cyrus Driver, Managing Director, Partners Group, tells Private Equity Strategies.

CSS Corp was founded in 1996, and is now a world leader in technology support services with service delivery centers in 13 locations worldwide. CSS Corp’s CEO, “Tiger” TG Ramesh, has assembled a hand-picked team of executives from multi-billion dollar IT firms to drive a global expansion strategy. Driver explains that Partners Group saw an opportunity to provide growth equity financing for this next phase.

The focus of this transaction will be to build-out sales and further expand the firm’s service footprint by adding delivery centers in new geographies. CSS Corp will focus on building its business in analytics-led customer support, mobility, virtualization and telecom services.

“A large majority of CSS customers are based in the US but they also service customers in Europe and Asia. We think that the business will benefit from untapped growth opportunities in Latin America, that we can help access,” Driver says.

According to Driver, the interest in CSS stems from being able to expand into emerging markets. “We are not restricted by industry. Across industries, we seek investment opportunities in midcap businesses that straddle emerging and developed markets and that we can help grow to the next level. We continue to see a lot of opportunities in emerging markets. We recognize that emerging markets are no longer undiscovered and hence investors need to generate alpha to drive returns. We focus on investments with development potential and which we can add substantial value to.”

Partners has approximately EUR 28bn in investment programs under management in private equity, private real estate, private infrastructure and private debt.

 
This article was published in Opalesque's Private Equity Strategies our monthly research update on the global private equity landscape including all sectors and market caps.
Private Equity Strategies
Private Equity Strategies
Private Equity Strategies
Private Equity Strategies


Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Greenlight Re CEO says hedge fund reinsurance strategy buzz is validating[more]

    From Artemis.bm: The attention being paid to the hedge fund reinsurance business model and the fact that others are now looking to leverage bits of it within their own strategies, is validating for reinsurer Greenlight Capital Re, according to CEO Bart Hedges. There has been an increasing buzz

  2. Legal - Hedge fund manager fights £8m tax tribunal ruling[more]

    From FT.com: A hedge fund manager who may have to repay £8m in tax is trying to overturn a tribunal ruling that found he had attempted to shelter millions in an avoidance scheme. Patrick Degorce, chief investment officer at Theleme Partners, lost a tax tribunal case last year. HM Revenue & Customs c

  3. Europe - Hedge funds face exit tax as Iceland central bank discusses plan[more]

    From Bloomberg.com: Hedge funds and other creditors with claims against Iceland’s failed banks face an exit tax as the island looks for ways to unwind capital controls without hurting the economy. The government targets having a plan it can present by year-end that would map out how Iceland will sca

  4. Investing - George Soros puts $500m of his money on Bill Gross, Soros, Paulson backed Hispania Activos mulls Realia takeover, Ex-Credit Suisse trader’s hedge fund sees yen shorts as crowded, Hedge hunters double default-swaps as views split, Large hedge fund positions come under pressure, Vikram Pandit's fund picks 50% stake in JM Financial's realty lending arm for $87m[more]

    George Soros puts $500m of his money on Bill Gross From WSJ.com: Before Bill Gross was fully settled in at his new firm, Janus Capital Group Inc., he received an unlikely visit from the chief investment officer of famed investor George Soros ’s firm, according to a person familiar with t

  5. Hedge fund Oceanwood raises $2bn, to close to new investors[more]

    From Reuters.com: Europe-focused hedge fund Oceanwood Capital Management is closing its fund to new investors after its assets under management hit $2 billion (1 billion pounds) recently, a source with direct knowledge of the matter said. Oceanwood, a multi-strategy hedge fund spinout from Tudor Gro