Blackstone is set to acquire a majority stake in VFS Global from EQT and the Kuoni and Hugentobler Foundation (KHF).
EQT Private Equity will have a minority stake alongside Blackstone. Blackstone, as majority shareholder, and KHF, as minority shareholder, will be co-investors in VFS Global.
VFS Global is the market leader in visa outsourcing services, headquartered in Zurich, Switzerland and Dubai, UAE. Founded by its current CEO, Zubin Karkaria in 2001, VFS Global is now the largest provider of visa outsourcing and technology services to governments and diplomatic missions worldwide.
VFS Global services more than 60 client governments through ~3,500 visa application centres in over 140 countries across five continents. Since its inception, the company has processed over 230 million applications, and more than 100 million biometric enrolments.