Approved · Waiver · decided in 27 days, 25 May 2026
Hillhouse, a global alternative investment manager, through Hermes Bidco, proposes to acquire a majority interest in KMC Solutions Hong Kong Limited. KMC Solutions operates in the labour supply services industry, providing workspace and Employer of Record (EOR) / Professional Employer Organisation (PEO) services, including to Australia.
Hillhouse, through Hermes Bidco, proposes to acquire a majority interest in KMC Solutions Hong Kong Limited. Hillhouse is a global alternative investment manager that deploys capital across multiple strategies, including public equities, private equity, private credit, and real assets. Through its private equity arm, Hillhouse invests in long-term global opportunities across the business services, healthcare, consumer, and industrials sectors. One of Hillhouse’s investments is in Ascentium, a Singapore-based platform focusing on trust and corporate services in Asia-Pacific region, including in Australia. It provides administration, compliance, and business solution, which includes employer of record ( EOR ) or Professional Employer Organisation ( PEO ) services. The target, KMC Solutions is a business that primarily operates in the Philippines, supplying workspace and EOR and PEO services, including to Australia.