HedgeCo.Net — Apollo announced late on September 15 (9:00pm ET) that Apollo-managed funds, affiliates, and other long-term investors provided $585 million of financing to The Executive Centre. Proceeds are primarily to refinance existing debt and position TEC for further expansion. TEC operates more than 260 centres across 38 cities in 15 Asia-Pacific and Middle East markets.
Private Equity Wire, citing Bloomberg, called the package Apollo’s largest hybrid debt-and-equity transaction in Asia to date and noted TEC was acquired in 2021 by a KKR-led consortium with Tiga Investments. Bloomberg separately covered the $585 million financing on September 16.
This is a disclosed hybrid financing package to a KKR-backed flex-office platform, not a full exit. Mark the $585 million size, refinance-and-expansion use of proceeds, the 260+ centres / 38 cities / 15 markets footprint, and the “largest Asia hybrid” framing as sourced. Do not invent split between debt and equity, coupon terms, or a change-of-control beyond the KKR 2021 acquisition context.