Global Travel, Transportation and Logistics technology major IBS Software announced today that it will receive $170 million private equity investment from funds managed by Blackstone (NYSE:BX) in exchange for a minority shareholding. Blackstone is buying out General Atlantic, a leading growth equity firm that has been invested in IBS since 2007, and other shareholders. The transaction is expected to close within a month, subject to customary regulatory approvals.
General Atlantic, a leading global growth equity firm, announced today that Fock Wai Hoong, formerly of CVC Capital Partners, has joined General Atlantic as head of the firm’s Southeast Asia investing program. Mr. Fock will be based in the firm’s Singapore office.