Partners Group Exits Gong Cha Investment
Partners Group has agreed to exit its investment in Gong cha after Bain Capital acquired the bubble tea maker earlier this month. The Swiss firm originally backed TA Associates' 2019 buyout of the company.
Insights:
Partners Group has exited its private equity investment in bubble tea chain Gong cha following Bain Capital's buyout earlier this month, the Switzerland-based private equity firm said on a Monday morning. The divestment closes a multi-year holding period that began when Partners Group backed TA Associates' 2019 buyout. Financial terms of the exit remain undisclosed, though market estimates valued the transaction at up to $2 billion.
