STANDARD Chartered Private Equity (SCPE) has invested US$52 million in Crystal Jade Group Holdings which is an L Capital Asia portfolio company.
The investment will primarily go towards funding the growth of Crystal Jade's existing network of outlets across Asia, as well as the expansion of its footprint internationally.
Ravi Thakran, managing partner of L Capital Asia, said: "We have had a successful history of creating value on other assets with SCPE and warmly welcome them as our co-investors in Crystal Jade. Their investment will further strengthen the resources available to allow full exploitation of the tremendous growth opportunity for Crystal Jade."
Nainesh Jaisingh, global co-head of private equity at SCPE, said: "Crystal Jade is an exciting business, with a strong Asian brand and significant potential across Standard Chartered's footprint. We are delighted to join L Capital Asia - with whom we have had a very successful association - and look forward to building a great company together."