Private Equity firm Pag Asia Capital has invested an undisclosed amount in restaurant company Paradise Group Holdings, which has more than 60 outlets in Singapore.

Current shareholders Eldwin and Edlan Chua remain as significant shareholders and retain their current positions in the company, reports Deal Street Asia.

The group’s brands include Taste Paradise, Paradise Teochew, Seafood Paradise, Canton Paradise, Beauty in the Pot, Paradise Dynasty, ParaThai, Paradise Inn, Paradise Hotpot, LeNu and One Paradise.

Pag Asia Capital is the private equity arm of asset management firm Pag, which is said to have $16 billion in capital under management, with 380 staff across its Asia offices.

As well as its Singapore restaurants, Paradise Group has a presence in China, Dubai, Indonesia, Japan, Malaysia, Myanmar, Taiwan, the Philippines and the UK. It has multiple dining concepts focussed on Chinese cuisine, as well as a Thai dining concept. Founded in 2008 by CEO Eldwin Chua, the group started with two locations,

“The management team of Paradise Group has built an impressive franchise with great potential for future growth, particularly in China,” says Pag Group chairman/CEO Weijian Shan. “We believe our investment and operational expertise, combined with Paradise Group’s brand and capabilities, will help the company further expand its footprint throughout Asia.”