Insider Spotlight
The transaction brings together managed office platforms in two of the world's major markets for global business services, potentially giving Philippine-based KMC greater access to international customers, capital and operating expertise.
Why it matters
For the Philippines, the deal could strengthen the country's position as a destination for multinational companies seeking flexible offices and business support services.
KMC provides managed workspaces and HR solutions, while Table Space is one of India's largest enterprise managed office operators.
The combined platform will have about 13 million square feet of space under management. The partners plan to expand their customer bases, introduce additional services and share technology and operating practices.
The big picture
Following completion, KMC will gain access to Hillhouse and Table Space's regional network and operational expertise, providing resources to accelerate its growth.
KMC's founders will retain a significant interest, with the company continuing under its existing management and brand.
Rava Partners co-head and Hillhouse partner Joe Gagnon said in a statement, “Having lived through the sharing economy euphoria, we have come to see managed office as a mature sector with a real value-creation proposition for blue-chip corporate tenants. We are excited to back Table Space's expansion through the investment in KMC, bringing together two platforms to create one of the largest players of its kind in APAC.”
What they're saying
Table Space co-CEOs Karan Chopra and Kunal Mehra said, “While India remains central to how global enterprises build capability, we see the Philippines as a natural complement as companies increasingly operate across multiple markets. KMC brings strong workspace and business services capabilities in the Philippines, and together we see significant opportunities to support global customers across both markets while advancing our broader international growth strategy.”
KMC co-founder and chair Michael McCullough said, "We are thrilled to welcome Hillhouse and Table Space as our new partners. This is a validation of everything our team has built over the past 15 years.”“The partnership gives us access to growth capital, industry ecosystem, and operational expertise to continue as the dominant managed workspace provider in the Philippines and to grow our footprint regionally. We continue to see a strong value proposition in global business services, particularly as the growing AI adoption reshapes and expands the services we are able to provide.”
What's next
The partnership positions KMC to broaden its Philippine offerings while tapping a larger regional ecosystem. Its founders also see opportunities to expand into underserved, scalable markets as companies rethink workplaces and workforce management.
KMC co-founders Gregory Kittelson and Amanda Carpo said, “Together, we look to continue growing our products and services in underserved markets that are highly scalable and operationally excellent.” “KMC has always endeavored to reimagine workplace agility and redefine how companies build and manage their teams. This partnership is an important next step in delivering future-ready workplaces and business services that empower companies to grow with confidence.”
For the Philippines, the deal is more than a change in KMC's ownership—it gives a homegrown platform more firepower to capture regional growth while reinforcing the country's role as a key hub for global business services. —Ramon C. Nocon | Ed: Corrie S. Narisma
