Private equity and investment advisory firm CVC Capital Partners has agreed to acquire a majority stake in Hong Kong-based serviced office provider The Executive Centre, in partnership with the management team, from Asia-focused private equity firm Headland Capital Partners. Headland will retain a minority ownership in the business. The Executive Center provides serviced offices, virtual offices, meeting facilities, video conferencing and a range of business concierge services, and intends to continue its expansion in the serviced office market in Asia. Financial details of the transaction, which is expected reach completion at the end of May 2014, were not disclosed.