HomeNewsHosen Capital Closes US$280 Million Continuation Fund


Hosen Capital Closes US$280 Million Continuation Fund

BEIJING, April 19, 2022 - Hosen Capital (“Hosen”) has successfully completed a transfer of its portfolio company, Kilcoy Global Foods (“KGF”), from Hosen’s USD Fund I to a fund continuation vehicle (“FCV”) (“the Transactions”). The transaction, completed in April 2022 and valued at USD $280 million, takes the Hosen USD Fund I distributions to paid-in capital (“DPI”) to 3.0x. Receiving strong interests, Hosen closed the $200 million FCV from a diverse group of leading secondary and primary investors. With strong conviction of the quality of the asset, Hosen also made a direct $80m investment from its USD Fund III.

Since 2013, Hosen has made a series of acquisitions to establish KGF as a buy-and-build platform, forming and growing a global premium food solutions provider. With investments from Hosen Funds I & II as well as co-investments from LPs, Hosen has led the company through years of buy-and-build integration, capacity expansion, developing in-house capabilities and funding value-accretive growth. The Transaction, which further solidifies the alignment of interests, will allow Hosen to continue driving KGF’s strategic transformation and in close collaboration with the management team to take KGF to the next level.

As a global premium food provider, KGF supplies a wide range of high-quality protein and meal solutions to global blue-chip customers across food service, retail, and institutional segments. KGF’s revenue has grown from USD $330 million (2013 actual) to $2 billion (2021 actual). Over the last three years, Hosen and KGF management have transformed its supply network to achieve “multi-market, multi-source” agility allowing it to navigate through the COVID pandemic and frequent trade disruptions. Pursuing high Environment, Social, and Governance (ESG) standards, KGF has fully upgraded its manufacturing and supply chain, achieved 100% Carbon Neutral in Australia in 2021, and aims to achieve Carbon Neutral at the group level by 2023.