An Asia deal team is advising Partners Group, a leading global private markets firm, and management shareholders on the disposal of PG portfolio company Straive (formerly known as SPi Global), a leading global provider of technology-driven content and data solutions, to Baring Private Equity Asia. The transaction, which signed on 19 August 2021, is subject to regulatory approvals and is expected to close in Q4 of this year.
Straive provides a suite of technology-driven platforms and services for the creation, enrichment, and dissemination of e-learning content, research content, and specialized data solutions. The Company today has over 17,000 employees in 15 locations across the Philippines, Singapore, India, China, Vietnam, US, UK, and Nicaragua.
The firm acted for Partners Group when it acquired a majority stake in Straive, then known as SPi Global, in August 2017, and also advised on three strategic bolt-on acquisitions between 2018 and 2020 to supplement Straive’s organic growth.
The deal team was led by Hong Kong partner Simon Cooke with Singapore associates Gwenlynne Lee and Sarah Soh. Additional advice was provided by corporate associates Joanne Lao and Vivian Yeung in Hong Kong, Gen Huong Tan and Esther Franks in Singapore, Mack Weber in New York and Hannah Berdal in London; as well as finance associates Lynsey Edgar and Jeffrey Wong in Hong Kong, Howe Min Wee in Singapore and Joseph Zenruffinen in New York. The core team was supported by lawyers from across the firm globally with London partner Quentin Gwyer advising on real estate matters; Chicago partners Robin Struve and Laura Waller with London associate Shaun Thompson on benefits and compensation matters; Brussels partner Luca Crocco and counsel Tomas Nilsson on anti-trust matters, and Washington D.C partner Les Carnegie and Hong Kong associate Christopher Eng on foreign investment and anti-bribery matters.