Private equity major CVC Capital Partners is investing 6 billion pesos ($124 million) in Philippine-based third-party logistics firm Fast Group to fund the company’s domestic and regional expansion.
The proposed commitment will give the PE firm a 40 per cent stake in the logistics company, CVC Capital Partners managing director Brice Cu confirmed in a virtual conference Tuesday. “And what’s interesting to know is that, it’s all primary capital. So all that money will be used for growing the business,” Cu said.
