Bengaluru-based real estate firm Table Space and Hillhouse firm Rava Partners have acquired a majority stake in Philippines-based KMC Solutions, according to a statement released on Wednesday. The acquisition focuses on KMC Solutions, which specializes in managed workspace and HR solutions. The companies did not disclose the quantum of stake acquired, the purchase price, ownership split, or expected completion date in their announcement.
The deal is expected to create one of the largest players in the APAC managed office sector, with 13 million square feet of space under management across India and the Philippines, as reported by multiple sources. Established in 2017, Table Space is one of the leading managed workspace providers in India, managing more than 11 million square feet across 84 centres in nine Indian cities and serving over 425 clients, including Fortune 50 and Fortune 500 companies. The acquisition aligns with Table Space's strategy to expand its managed office space business across strategically relevant geographies.
Joe Gagnon, a Hillhouse partner and co-head of Rava, emphasized the maturity of the managed office sector, stating that "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." As reported by The Hindu BusinessLine, Karan Chopra and Kunal Mehra, Co-CEOs of Table Space, noted that customers are increasingly operating across multiple markets, creating opportunities to extend the platform built in India to other geographies. The leadership highlighted the partnership's potential to support global customers across India and the Philippines while advancing Table Space's broader international growth strategy.
KMC Solutions, founded in 2010, operates more than 30 offices across major Philippine business districts, providing customised workspaces and workplace management for multinational customers. As part of the transaction, KMC's founders will retain a significant interest in the business, and KMC will continue to operate under its existing management team and brand. The company also offers employer-of-record, payroll, compliance and IT support services. Michael McCullough, Co-Founder and Chairman of KMC, stated that the partnership provides access to growth capital, industry ecosystem, and operational expertise to continue as one of the dominant managed workspace providers in the Philippines and grow regional footprint.
In August, TableSpace Technologies Ltd filed draft papers with markets regulator SEBI to raise funds through an Initial Public Offering (IPO), comprising a fresh issue of ₹800 crore and an OFS of up to 6.55 crore equity shares, as reported by The Hindu BusinessLine. The proposed investment would give Table Space a Philippine foothold as it prepares for an IPO in India, with the company having filed a draft prospectus dated 10 August with the Securities and Exchange Board of India. As of March 31, 2026, Table Space had 11.46 million square feet of leasable area across 33 key office clusters in eight Tier-1 Indian cities.
