Daily Update: Dash Living Expands Hong Kong Portfolio; Del Monte Restructures Debt; Jiade Raises Fresh Capital; Glowill Backs Aippy at $250M Valuation; Blackstone Closes $13.1B Asia PE Fund

DASH LIVING EXPANDS HONG KONG PORTFOLIO WITH HK$400 MILLION ACQUISITION

Dash Living,  Hong Kong based integrated living sector investment and operator platform backed by Rava Partners, Tuesday said it has acquired 39 Morrison Hill Road in Wan Chai in Hong Kong for HK$400 million. 

The property will be converted into a hybrid hotel and serviced apartment under Dash Living’s signature all-inclusive flexible living model, rebranded as Dash Living on Morrison.

“The property is located a 3-minute walking distance from the iconic Hong Kong landmark, Times Square, seamlessly connecting guests to the popular tourist destinations and business hubs like the Hong Kong Convention and Exhibition Centre,” Dash Living said.

Being Dash Living’s 10th location under management in Hong Kong, Dash Living on Morrison increases the firm’s assets under management to over US$500 million in the city.

“This acquisition reflects our strong momentum and deep conviction in the long-term growth of both Dash Living and the Hong Kong market,” said Aaron Lee, CEO and Founder of Dash Living. “With the continued recovery of the real estate market and surge of tourism and overseas talents, we see tremendous opportunity to bring this type of irreplaceable location, once in a cycle investment to our capital partners.”

“Dash Living continues to be the market leader in the Hong Kong living sector, with its proven track record of creating alpha with its technology-enabled operating platform,” said Hillhouse partner and Rava co-head Joe Gagnon. “With the market showing clear signs of recovery, we are excited to continue supporting Dash’s growth in the market with a core asset at an attractive basis”.

Since Rava’s investment in 2025, Dash has grown its AUM by 3 times to US$1.1 billion with over 2000 beds under management, expanding the footprint in Japan and Hong Kong SAR with the support of capital partners such as Greystar, BlackRock, Schroders, TE Capital Partners and many more.

DEL MONTE PACIFIC TO EMBARK ON $1.2 BILLION DEBT RESTRUCTURING

Del Monte Pacific Limited, listed on the Philippine Stock Exchange, Tuesday said it is planning to restructure its $1.2 billion debt spanning four entity levels within the Group structure. 

The company said that the intended framework is integrated in nature which addresses all material debt obligations within a single coordinated approach rather than through separate bilateral negotiations at each entity level. This is designed to prevent the proliferation of incompatible arrangements that could impair the Group’s ability to refinance on an orderly basis.

“These options may include, depending on circumstances, equity-related transactions at the subsidiary level, refinancing of existing facilities on improved terms, and proceeds from asset dispositions,” the company added. 

Del Monte Pacific said its financial difficulties arose principally from the performance and subsequent bankruptcy of its former United States subsidiary, Del Monte Foods Holdings (DMFHL), which filed for Chapter 11 protection in the United States in July 2025.

JIADE CLOSES ADDITIONAL $8.64 MILLION FUNDING

Jiade, China-headquartered provider of education support services for adult education institutions, Tuesday said it has completed the additional closing of $8.64 million in a registered direct offering, following an initial closing of $3.36 million. 

The additional closing shares are being issued at a purchase price of $2.40 per share.

Jiade said it intends to use the net proceeds from the sale of the securities for general corporate purposes, including working capital.

Jiade offers software-driven and service-based solutions centered around the Kebiao Technology Educational Administration Platform, which streamlines enrollment, student management, learning progress tracking, grade inquiry, and graduation management. 

JIADE also provides auxiliary services such as pre-enrollment guidance, exam training, application support, tutoring, and exam administration. 

The Company served 23,205 students taking the National Unified Examination for College Admissions for Adults, 28,240 students enrolled with the Open University of China, and 16,078 students preparing for the Self-taught Higher Education Examinations, provided safety technology training services for both theoretical instruction and practical training components to 16,298 individuals and online courses services to 88,055 individuals for the year ended December 31, 2025.

HONG KONG FUND GLOWILL CAPITAL FUNDS AIPPY AT $250 MILLION VALUATION

Hong Kong based fund – Glowill Capital has made investment in Aippy, an AI-native game community developed by NADA AI, at a post-money valuation to US$250 million. 

Aippy Tuesday said it has raised tens of millions of dollars in its first funding round led by Glowill Capital and the proceeds will be used to attract talent and support user growth as Aippy continues to expand its creator ecosystem.

Founded in Hong Kong, Glowill Capital is a global multi-strategy investment platform spanning a range of technology-driven industries, including artificial intelligence, quantum computing, biopharmaceuticals, semiconductors, and clean energy.

“We were drawn to Aippy by the team’s strong consumer internet expertise, global operating experience, and understanding of social and gaming products,” said a representative from Glowill Capital. 

“We also see significant growth potential in lowering the barrier to game creation through AI while building a community-driven ecosystem. When we were interviewing Aippy users, many of them, from Europe and North America, showed strong enthusiasm and a clear sense of belonging to the platform, which further strengthened our confidence in Aippy’s long-term potential,” Glowill added.

Since its launch in April 2025, Aippy has gained traction across major English-speaking markets, including the United States, the United Kingdom, and Canada, with Gen Z and Gen Alpha users making up a significant portion of Aippy’s community.

To date, Aippy has surpassed 3 million downloads worldwide and is approaching 2 million monthly active users. Its Discord community has grown to approximately 15,000 members, where users actively exchange prompts, showcase their creations, and collaborate on new ideas — further strengthening engagement and reinforcing the platform’s creator ecosystem.

BLACKSTONE RAISES ITS LARGEST ASIA PRIVATE EQUITY FUND AT $13.1 BILLION

Blackstone Tuesday said it has achieved close of Blackstone Capital Partners Asia III at $13.1 billion, exceeding its $10 billion target and marking the firm’s largest private equity fundraise in the region. 

The oversubscribed fund reached its hard cap and builds on the strong performance of the strategy’s first two vintages, with this close representing more than double the amount of capital raised for its predecessor vehicle.

​​​​​​Joe Baratta, Global Head of Blackstone Private Equity Strategies, said: “We are grateful for the continued trust of our investors in Blackstone and our leading Asia Private Equity franchise. This successful fundraise reflects the strength of our platform and our ability to perform through cycles. Asia Pacific is the fastest-growing region in the world, presenting compelling opportunities to invest at scale behind our high-conviction themes and deliver for our investors.”

Amit Dixit, Head of Asia for Blackstone Private Equity, said: “For two decades, we have focused on building businesses into market leaders and driving performance for our investors. We believe our differentiation lies in our scale, supported by homegrown teams across the region’s major markets; strong performance; and our control-oriented strategy that enables us to have a hands-on, proactive approach to supporting business transformations. We thank our investors for their support and partnership.”  

Blackstone has been one of the most active global investors in the region over the last 24 months, reinforcing its leadership in India and Japan. The firm invested over $7 billion of capital across 12 transactions. In addition, the firm has had 15 exits with realizations over the same period.