Table Space and Hillhouse Acquire Majority Stake in Philippines’ KMC Solutions to Build APAC Workspace Powerhouse

Indian workspace operator Table Space and Rava Partners, the real assets strategy arm of Hillhouse Investment, have announced the acquisition of a majority stake in KMC Solutions. The strategic investment unites two prominent managed office providers across India and the Philippines, forming one of the largest entities in the Asia-Pacific (APAC) flexible and enterprise workspace sector.

The combined entity will manage approximately 13 million square feet of office space across two of the region's largest hubs for Global Capability Centers (GCCs) and offshore business services.

Expanding Beyond India into Key APAC Markets

Founded in 2017, Table Space has established a dominant position in India's managed office sector. As of March 31, 2026, the company held 11.46 million square feet of leasable area across eight Tier-1 Indian cities, with 9.33 million square feet actively leased—making it the largest operator in India by leased area.

This transaction marks Table Space’s initial international expansion, allowing it to serve multinational clients operating across both South and Southeast Asia.

"India continues to be the core of Table Space’s growth strategy. At the same time, our customers are increasingly operating across multiple markets, creating an opportunity to extend the platform we have built in India to other strategically relevant geographies," said Karan Chopra and Kunal Mehra, Co-CEOs of Table Space. "The Philippines is a natural complement to India given its position as a destination for global business services and GCCs."

Driving Synergies Across Enterprise Managed Workspaces

The strategic partnership aims to leverage cross-border synergies between the two companies. Plans include expanding customer bases across both regions, broadening value-added service offerings (including KMC's specialized HR and managed services solutions), and sharing operational technologies and best practices.

Joe Gagnon, Co-Head of Rava Partners and Partner at Hillhouse, highlighted the evolution of the flexible office space market:

"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."

Adding to this perspective, Siddhartha Gupta, Founder of Alta Capital and Partner at Hillhouse, noted that both platforms share a track record of disciplined, profitable growth, positioning the combined entity to capture rising demand for enterprise-grade office spaces across APAC.

KMC to Retain Brand Identity and Leadership

Despite the change in majority ownership, KMC Solutions will maintain its existing brand identity and corporate structure. The company's founders will retain a significant financial stake, and the incumbent executive team will continue to lead operations in the Philippines.

Michael McCullough, Co-Founder and Chairman of KMC, noted that the infusion of growth capital and operational expertise comes at a pivotal time:

"This is a validation of what our team has built over the past 15 years... We continue to see a strong value proposition in global business services, particularly as growing AI adoption reshapes and expands the services we are able to provide."

KMC Co-Founders Gregory Kittelson and Amanda Carpo echoed this outlook, describing the transaction as a "force-multiplier" that will enable the company to accelerate development in underserved, highly scalable markets across the region.