Affinity Equity Partners

Affinity was proud to present our annual CEO Roundtable to engage with our portfolio companies on the latest sustainability and AI trends. This is the first time that our event was held in Singapore featuring value creation ideas across our Southeast Asian and Australian portfolio! Our event was supported by Peter Cho and Daniel Oehling from BCG, Eu-Lin Fang and Sammie Leung from PWC and Professor Nick Watts from the Center for Sustainable Medicine. We also had value creation case studies on our work in Island Hospital presented by our colleague JJ Tong, and ScotPac Bank, presented by CEO Jon Sutton and CTO Neale Kant. We had a wonderful time hearing from our speakers experiences, and a fulfilling time of networking amongst the Affinity portfolio. A big thank you to all our speakers for sharing your valuable insights, to our portfolio companies for your valuable attendance and contributions and to our team for supporting the event! Peter Cho Daniel Oehling Boston Consulting Group (BCG) BCG X Eu-Lin Fang Sammie Leung PwC Singapore Nick Watts Centre for Sustainable Medicine Island Hospital Penang ScotPac Business Finance Ramkhamhaeng Hospital Plaza Premium Group SERVEONE - MRO Management Solution Provider Junjie Tong Jon Sutton Neale Kant Vidio HDBank M-DAQ Global

We are pleased to share that Affinity Equity Partners has entered into a definitive sales and purchase agreement to fully divest its controlling stake in Island Hospital Penang to IHH Healthcare, Asia’s largest hospital group operating over 80 hospitals in 10 countries and listed on the Malaysian Stock Exchange. The 100% sale values the Company at an enterprise value of RM 4.2 billion (c. US$ 966 million). This implies a ~24.6x EV / EBITDA multiple based on the last twelve months EBITDA as of June 2024. This transaction is also the largest control deal for a single hospital in Asia. Founded in 1996, Island Hospital Penang is the leading 600-bed quaternary healthcare provider in Penang, Malaysia, and is the #1 market leader in serving health travelers, attracting 1 in 3 inbound foreign patients to Malaysia. Medical tourism represents the largest and fastest growing part of the Malaysian private healthcare market. Under Affinity Equity Partners’ ownership, through an ambitious hospital expansion plan and investments to strengthen and grow its medical specialties, as well as expansion into new markets, Island Hospital has solidified its market leadership as the #1 medical tourism hospital in Malaysia, and we are confident that Island Hospital Penang will continue its transformational journey to become one of the largest sustainable and integrated medical cities in Asia under the IHH platform.

Today marks another milestone for Affinity, as we publish the third edition of our annual Sustainability Report! As testament to Affinity’s sustainable investment philosophy and active management of our portfolio companies, in 2024, we are delighted to announce two successful exits from our Fund IV and V portfolio. The companies we exited have demonstrated deep integration of ESG principles into their businesses and operations, creating resilient and sustainable value through their ESG initiatives. We are also proud to have received the highest possible score of 5 out of 5 stars for the Policy Governance and Stewardship and Private Equity modules in the 2023 Principles for Responsible Investment (“PRI”) assessment. This scoring represents our commitment towards responsible investment and is a clear recognition of our leadership in Asian Private Equity. Above are just some of the highlights and we trust that you will find many more examples of our sustainable value creation processes in our report. #sustainabilityreport #climatechange #sustainablevaluecreation #privateequity #PRI 

Congratulations to HDBank on its remarkable performance with a 27% year-on-year increase in pre-tax profit for FY2023. Affinity is proud to be a part of this accomplishment by supporting HDBank's strategic foresight in digitalization and its unwavering commitment to responsible finance, decarbonization, social inclusion, and robust governance practices. We look forward to our ongoing collaboration to strengthen ESG governance practices and programs, setting the stage for even greater success in the future. https://lnkd.in/gQTbjMV9

KY Tang, our Founding Chairman & Managing Partner, recently shared his views on the outlook of Asia's private equity buyout market, alongside other esteemed panelists at the Singapore Venture & Private Capital Association 2024 Annual Conference. Asian GPs are redefining their investment strategies and focusing more on their core strengths. In our view, value investing will come back in favor over growth and momentum plays, and we expect GPs to pursue more buyout deals in this region going forward. Larger, more experienced firms have demonstrated resilience and are well-positioned amidst the current challenging market environment for dealmaking and exits. #SVCA #SVCACONF2024 #PrivateEquity

Congratulations to our portfolio company Island Hospital Penang for receiving multiple awards at the GlobalHealth Asia-Pacific Summit, Conference & Award 2024. #IslandHospital #YourHealthcarePartner #IslandMedicalCity #PenangHealthcare #HealthcareMalaysia #FlagshipMedicalTourismHospital #worldsbesthospital2024

Benny Lim, Affinity's Partner & Head of Southeast Asia, shared his views with industry experts at a panel discussion at the Asian Venture Capital Journal (AVCJ) Private Equity Forum Singapore 2024. Understanding the nuances at the community level is essential to investment success in Southeast Asia - and this comes from having local experience and longevity in the region. Thanks to the fellow panelists Andrew Thompson, Nicholas Bloy, Luyi Zheng and moderator Likha Cuevas for a thoughtful dialogue.

We are pleased to share that Affinity has completed the sale of Sido, Indonesia's largest herbal products and medicines brand and manufacturer. This is another testament to Affinity’s strong track record of developing trusted and collaborative partnerships with reputable families in Asia. #localpartnerships #valuecreation https://lnkd.in/dMBCUJnu

Nick Speer, our Partner and Head of Australia/New Zealand was invited to share his views on portfolio management and #valuecreation at the Asian Venture Capital Journal (AVCJ) Australia & New Zealand Private Equity Forum last week. Nick and his fellow panelists explored several discussion topics, including GPs' increasing use of digitalization as a driver of portfolio value creation, and the advantages of pan-Asian platforms to support the expansion of leading domestic companies into broader Asia and international markets.  #AVCJANZ #privateequity #portfoliomanagement https://lnkd.in/gTsmeHQW

Happy International Women’s Day! At Affinity, we believe in supporting our female colleagues to flourish. One of the challenges of the private equity industry is that there are fewer number of female investment professionals. In response to this, we have committed to interview and shortlist a female candidate for every open role. In doing so, we hope to provide more opportunities for female investment professionals in our industry. In our portfolio engagement, we have worked with the boards to appoint female board members. The percentage of our portfolio companies with female board members has grown from 35% to 74% over the last 2 years. We look forward to more milestones in this journey toward a more diverse and inclusive workforce in private equity industry! #internationalwomensday2024