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Partners Group Exits Gong Cha After Bain Buyout

Bloomberg Markets •
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Partners Group will exit its private credit investment in Gong cha after Bain Capital bought the Taiwanese bubble-tea brand from TA Associates this month. The Swiss-based private asset manager said it has entered an agreement to be fully repaid, according to a document seen by Bloomberg. Partners Group in 2019 had provided a financing package of more than $200 million to support TA Associates' acquisition of Gong cha and also took a minority equity stake.