BPEA EQT, CPP co-invest $40m in Malaysian software provider

BPEA EQT, CPP co-invest $40m in Malaysian software provider

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Buyout giant BPEA EQT and CPP Investments have co-invested $40 million in Viewpoint Software, a Malaysia-headquartered entity engagement software provider, according to a company statement.

Viewpoint Software, founded in 1994, specialises in software as a service (SaaS). Its platform assists with email and task management, workflow, accounting, and cloud portals, among others. Some of its clients include fund companies, family offices, and banks.

The investment was made from BPEA EQT’s Mid-Market Growth Fund. After announcing the closing of its eighth fund at $11.2 billion last September, it was reported that the buyout giant was eyeing a mid-market fund. 

BPEA EQT achieved a first close on the mid-market fund at the end of last year, AVCJ reported, at roughly $400 million. Its LPs included those that have existing relationships with the private equity firm. 

BPEA EQT declined to comment when reached out by DealStreetAsia.

The deal marks another co-investment between CPP and BPEA EQT. CPP had also invested $180 million for a 10% stake in Tricor Group alongside BPEA EQT, after it had bought Tricor from Permira in late 2021. Last month, CPP also committed $100 million to BPEA EQT’s Mid-Market Growth Fund. 

A month after the close of its flagship fund, EQT had completed its acquisition of BPEA at around $6.7 billion, making it the biggest takeover of a private equity firm by another in the sector.

BPEA EQT was one of the region’s most prolific fundraisers last year, according to BDA Partners’ China Private Equity Report 2023.

Edited by: Joymitra Rai

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