Strategic Acquisition Forms APAC Powerhouse
Managed workspace operator Table Space and Rava Partners, the real-assets arm of Hillhouse Investment, have announced the acquisition of a majority stake in KMC Solutions, a Philippines-based workplace management firm. The transaction was confirmed by the companies on September 19, although the specific financial terms and the exact percentage of the stake acquired were not disclosed.
The deal brings together two major managed-office platforms, creating one of the largest operators in the Asia-Pacific region. The combined entity will manage approximately 13 million square feet of space. Both India and the Philippines are recognized as leading destinations for global capability centres (GCCs) and business-services operations.
KMC Founders Retain Interest
Despite the majority acquisition, KMC’s founders will retain a significant interest in the company. The firm will continue to operate under its existing brand and maintain its current management team. KMC, founded in 2010, operates more than 30 offices across major business districts in the Philippines. Its services include customised managed offices, workplace management, employer-of-record, payroll, compliance, and IT support for multinational companies.
Table Space’s International Expansion
For Table Space, founded in 2017, this investment marks its first major international expansion. The company stated that its customers are increasingly operating across multiple markets, creating a strategic opportunity to support their operations in both India and the Philippines.
As of March 31, 2026, Table Space had 11.46 million square feet of leasable area across 33 office clusters in eight Tier-I Indian cities. Of this, 9.33 million square feet was leased, positioning it as the largest among the managed workspace operators benchmarked by the company.
"The Philippines is a natural complement to India given its position as a destination for global business services and GCCs," said Karan Chopra and Kunal Mehra, co-chief executives of Table Space. They added that the partnership allows the companies to support global customers across both markets.
Synergies and Future Growth
The partners plan to cross-sell services, broaden their customer bases, and share technology and operational capabilities. KMC will gain access to Table Space and Hillhouse’s regional networks and capital to expand its operations.
Rava Partners has invested approximately $4 billion in equity across more than 20 real-estate companies in the Asia-Pacific region since its launch in 2020. Siddhartha Gupta, Founder of Alta Capital and Partner at Hillhouse, noted that the combined platform is uniquely positioned to compound success across APAC, citing the disciplined and profitable growth track records of both companies.
IPO Context
The transaction comes at a pivotal time for Table Space, which is preparing for an initial public offering. The company filed its draft red herring prospectus with the Securities and Exchange Board of India (SEBI) on August 10, 2026.