FountainVest Partners

In December 2007, Frank Tang and several other senior executives at Temasek Holdings founded FountainVest.[4] Major investors of the firm at the time were Temasek Holdings, CPP Investment Board and Ontario Teachers’ Pension Plan.[5] The firm raised almost $1 billion for its first China-focused private equity fund[5] despite the timing of the 2007–2008 financial crisis.[6] For many investors, FountainVest was the first China private equity fund they committed money to.[3][4][7][8][9][10] By 2022, the company closed its fourth fund, that one being of $2.9 Billion.[11]

In November 2009, FountainVest, Sequoia Capital and CITIC Capital acquired a stake worth $180 million in Sina Corporation[13] which runs Weibo, China's most popular microblogger.[10] The purpose was to strengthen Sina management's hold on the company and allow it to finance future acquisitions.[4][10][13]

In 2012, an investor consortium including FountainVest and The Carlyle Group took Focus Media private via a $3.7 billion leveraged buyout deal.[3] At the time it was the largest leveraged buyout deal in China.[8][14][15] In 2015, FountainVest held a stake of just below the 20 per cent of Focus Media and CITIC about 17.5 percent.[16] Focus Media and FountainVest partners eventually set up the joint venture Focus Media FountainVest Sports worth $400 Million aimed to invest in sports.[16] The consortium later relisted Focus Media on the Shenzhen Stock Exchange via a reverse merger in 2015 in a deal worth $7.4 billion. Finally in July 2018, the consortium exited Focus Media after they sold their stake in Focus Media to the Alibaba Group for $1.2 billion.[17][18]

In January 2014, Fountainvest joined an investor consortium to privatize Nasdaq-listed company, Shanda Games for $1.9 billion. However in September 2014, it pulled out of the deal.[19][20]

In August 2014, Fountainvest and CPP Investment Board acquired Key Safety Systems for $800 million.[21][22] In February 2016, Fountainvest and its partners sold Key Safety Systems to Ningbo Joyson Electronic Corporation for $920 million.[23]

In June 2016, Endeavor formed a joint venture in China with FountainVest, Sequoia Capital and Tencent. In April 2022 Endeavor acquired the remaining stake of the joint venture for $158 million.[24][25]

By September 2017, FountainVest acquired the German Bosch Mahle Turbo Systems (BMTS), a joint venture of Bosch and Mahle founded in 2008 that produces turbochargers.[26] The company had 1300 employees at the time.[26][27] In April 2021, FountainVest led a consortium, which invested $220 million in the self driving truck company Plus AI.[28]

In 2018, the company teamed up with CITIC and acquired a stake of 50 per cent of Loscam, an Australian pallet producer from China Merchants.[29]

In December 2018 an investor consortium led by Anta Sports that included FountainVest and Tencent acquired Amer Sports for $5.2 billion.[3][30] In Amer sports are included the ski brands Atomic, Salomon and the tennis racket producer Wilson.[31]

In November 2021 FountainVest struck a deal to acquire the Chinese franchises of Papa John's and Dairy Queen for $160 million.[32] An expansion from currently around 160 to 1,350 restaurants by 2040 in Southern China was agreed upon.[33] For the Chinese branch of Dairy Queen an expansion from 900 to 1500 until 2040 was planned.[34]

• Official website