Hillhouse and Table Space acquire majority stakes in KMC Solutions, creating a leading managed office platform in APAC
September 14, 2026, Singapore—Rava Partners, Hillhouse Investment’s dedicated real assets strategy (together, “Hillhouse”), and Table Space, one of India’s largest enterprise managed office operators, today announced an acquisition of majority stakes in KMC Solutions (“KMC” or the “Company”), a Philippines-based enterprise service provider focusing on managed workspace and HR solutions.
The investment combines the leading managed office operators in India and the Philippines to create one of the largest players in the APAC managed office sector with c. 13 million square feet of space under management across the two largest markets for global business services. The partners see potential in growing both companies’ customer bases, extending value-add service offerings to serve the wider needs of existing clients and sharing best practices across technology and operation.
Following completion of the investment, KMC will gain access to Hillhouse and Table Space’s regional network and operational expertise to accelerate its next phase of growth. As part of the transaction, KMC’s founders will retain a significant interest in the business, and KMC will continue to operate under its existing management team and brand.
Joe Gagnon, Co-Head of Rava Partners and Partner at Hillhouse, said, “Having lived through the sharing economy euphoria, we have come to see managed office as a mature sector with a real value-creation proposition for blue-chip corporate tenants. We are excited to back Table Space’s expansion through the investment in KMC, bringing together two platforms to create one of the largest players of its kind in APAC.”
Siddhartha Gupta, Founder of Alta Capital and Partner at Hillhouse, said, “India and the Philippines have long been the backbone of global business services, and this partnership reflects our conviction in the increasing adoption of enterprise-grade managed office platforms across the region. Both Table Space and KMC have demonstrated exceptional track records of disciplined and profitable growth. Together, the combined platform is well positioned to compound that success across APAC.”
Karan Chopra and Kunal Mehra, Co-CEOs of Table Space, said, “While India remains central to how global enterprises build capability, we see the Philippines as a natural complement as companies increasingly operate across multiple markets. KMC brings strong workspace and business services capabilities in the Philippines, and together we see significant opportunity to support global customers across both markets while advancing our broader international growth strategy.”
Michael McCullough, Co-Founder and Chairman of KMC, said, “We are thrilled to welcome Hillhouse and Table Space as our new partners. This is a validation of everything our team has built over the past 15 years. The partnership gives us access to growth capital, industry ecosystem, and operational expertise to continue as the dominant managed workspace provider in the Philippines and to grow our footprint regionally. We continue to see a strong value proposition in global business services, particularly as the growing AI adoption reshapes and expands the services we are able to provide.”
“The opportunity to partner with Hillhouse and Table Space is a force-multiplier for KMC,” said KMC Co-Founders Gregory Kittelson and Amanda Carpo. “Together, we look to continue growing our products and services in underserved markets that are highly scalable and operationally excellent. KMC has always endeavored to reimagine workplace agility and redefine how companies build and manage their teams. This partnership is an important next step in delivering future-ready workplaces and business services that empower companies to grow with confidence.”
About Hillhouse
Founded in 2005 with seed capital from Yale University Endowment, Hillhouse is a leading global alternative investment manager headquartered in Singapore. With two decades of experience, Hillhouse has grown to be a large alternative asset manager with a range of investment strategies that span public equities, private equity, private credit and real assets. The firm has a global investment committee and an international team of over 100 investment and operational professionals from over 18 countries, including Japan, United Kingdom, India, Singapore, and the United States.
Hillhouse’s private equity portfolio is geographically diverse, with investments in more than 30 countries worldwide. Hillhouse manages assets on behalf of primarily U.S., Southeast Asia and Middle East-based institutional clients such as university endowments, foundations, family offices and other long-term institutional investors.
About Rava Partners
Rava Partners invests in real assets, partnering with quality business leaders to build the physical infrastructure that underpins Asia-Pacific’s new economy. Rava Partners builds real asset platforms in growth sectors of Asia’s economy such as education, logistics / industrial, life sciences / healthcare, multifamily accommodation, digital infrastructure and other specialized asset classes. Rava Partners is the real assets strategy established by Hillhouse together with Rava Partners senior management in 2020 as a complement to Hillhouse’s broader private investment platform. Since its launch, Rava Partners has invested approximately US$4 billion of equity, on behalf of funds managed by Rava and Hillhouse, in more than 20 real estate companies across the Asia-Pacific region. For more information, visit https://www.ravapartners.com.
About Table Space
Table Space is one of India’s leading providers of enterprise-grade managed office solutions. Founded in 2017, the company manages a portfolio of over 11 million square feet across key Indian markets. From custom-built offices to ready-to-move-in suites, Table Space delivers fully managed workspace solutions that enable a seamless workplace experience for 425+ clients across industries, including some of the Fortune 50 and Fortune 500 companies. Operating 84 centres across 9 Indian cities, Table Space specializes in delivering premium managed workspace solutions through an Enterprise Workspace-as-a-Service (WaaS) model – enabling enterprises to access flexible, scalable workspace solutions on their terms, while Table Space manages the full scope of their workspace needs.
About KMC
Founded in 2010, KMC is one of the largest managed workspace providers in the Philippines, providing customized offices and holistic workplace management to multinational customers, along with a range of value-add business services. With more than 30 offices across major Philippine business districts, KMC also delivers Employer of Record, payroll, compliance, and IT support services, enabling global enterprises to build and manage high-performing global teams with speed and confidence.
