Rava Partners, Hillhouse Investment’s dedicated real assets strategy, and Table Space, one of India’s largest enterprise managed office operators, have completed the acquisition of majority stakes in KMC Solutions, a Philippines-based enterprise service provider focusing on managed workspace and HR solutions.
Founded in 2010, KMC operates more than 30 offices across major Philippine business districts, providing customized offices and holistic workplace management alongside value-add business services such as Employer of Record, payroll, compliance, and IT support. Under the terms of the transaction, KMC’s founders retain a significant interest in the business, and the company will continue to operate under its existing management team and brand.
The investment combines the leading managed office operators in India and the Philippines to create one of the largest players in the APAC managed office sector, managing approximately 13 million square feet of space across the two largest markets for global business services. The partners see potential in growing both companies’ customer bases, extending service offerings to serve the wider needs of existing clients, and sharing best practices across technology and operations.
Following completion of the investment, KMC will gain access to the regional networks and operational expertise of Hillhouse – a global alternative investment manager headquartered in Singapore – and Table Space, which manages a portfolio of over 11 million square feet across key Indian markets since its founding in 2017.
“Having lived through the sharing economy euphoria, we have come to see managed office as a mature sector with a real value-creation proposition for blue-chip corporate tenants,” said Joe Gagnon, Co-Head of Rava Partners and Partner at Hillhouse. “We are excited to back Table Space’s expansion through the investment in KMC, bringing together two platforms to create one of the largest players of its kind in APAC.”
Siddhartha Gupta, Founder of Alta Capital and Partner at Hillhouse, added, “India and the Philippines have long been the backbone of global business services, and this partnership reflects our conviction in the increasing adoption of enterprise-grade managed office platforms across the region. Both Table Space and KMC have demonstrated exceptional track records of disciplined and profitable growth. Together, the combined platform is well positioned to compound that success across APAC.”
Karan Chopra and Kunal Mehra, Co-CEOs of Table Space, noted, “While India remains central to how global enterprises build capability, we see the Philippines as a natural complement as companies increasingly operate across multiple markets. KMC brings strong workspace and business services capabilities in the Philippines, and together we see significant opportunity to support global customers across both markets while advancing our broader international growth strategy.”
Michael McCullough, Co-Founder and Chairman of KMC, shared, “We are thrilled to welcome Hillhouse and Table Space as our new partners. This is a validation of everything our team has built over the past 15 years. The partnership gives us access to growth capital, industry ecosystem, and operational expertise to continue as the dominant managed workspace provider in the Philippines and to grow our footprint regionally. We continue to see a strong value proposition in global business services, particularly as the growing AI adoption reshapes and expands the services we are able to provide.”
“The opportunity to partner with Hillhouse and Table Space is a force-multiplier for KMC,” said KMC Co-Founders Gregory Kittelson and Amanda Carpo. “Together, we look to continue growing our products and services in underserved markets that are highly scalable and operationally excellent. KMC has always endeavored to reimagine workplace agility and redefine how companies build and manage their teams. This partnership is an important next step in delivering future-ready workplaces and business services that empower companies to grow with confidence.”