Standard Chartered Invests In Crystal Jade Group

Finding a table for lunch in the CBD of both Hong Kong and Singapore has become a real challenge, so one way of making sure you get your favorite seat for lunch is to buy the restuarant and Standard Chartered Bank have just done that, well kind of.

Standard Chartered Private Equity (“SCPE”) the private equity arm of Standard Chartered Bank has invested USD52 million in Crystal Jade Group Holdings (“Crystal Jade”), an L Capital Asia portfolio company and one of Asia’s premier diversified Food and Beverage groups. 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.

Crystal Jade operates over 100 outlets ranging from fine dining, casual and specialty restaurants to bakeries across the Asia Pacific region with a primary focus in Singapore, Hong Kong and Mainland China. Established in the early 1990s, it has become a household name in Chinese cuisine, with its outlets renowned for exceptional food quality and excellent customer service, winning acclaim from top global F&B publications.

L Capital Asia is the Asian private equity business sponsored by LVMH Moët Hennessy Louis Vuitton S.A. (LVMH).

Ravi Thakran, Managing Partner of L Capital Asia, commented: "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.”

 

WEB'S BEST

Top stories from across the globe

  • Asia Pacific's Top Six Credit Risks For 2017
  • The 5 Most Shocking News in 2016
  • Hazel Moore: Banks Are Completely Wasting Valuable Customer Data
  • Morgan Stanley CEO Makes First-Ever Stock Sales After Bank Rally
  • Former Goldman's Partner in Boutique Venture
  • Hong Kong and Singapore in Push for Fee Transparency
More

PHOTO GALLERIES

finews.asia Networking Event

finews.asia Networking Event

Show pictures

stars China Symposium 2016

stars China Symposium 2016

Show pictures

Compare my salary

Compare my salary

Feeling Underpaid? Benchmark your salary by job title, company and location. Find out where you stand in minutes.

compare my salary

Newsletter

Newsletter-SymbolFree Subscription

Subscribe to our free newsletter and receive daily email alerts from the finews editorial team with a list of the top featured articles.

Share with us

Do you have any market intelligence to share with finews.asia – email us on info@finews.asia – All communication is completely confidential and strictly anonymous.