Japan's ORIX launches Korean PE fund to invest in Mirae Asset Life
Japanese financial services group ORIX Corporation is to establish what it claims is the “largest investment fund established by a Japanese company in South Korea” to acquire shares in Korea’s Mirae Asset Life Insurance. The private equity fund - whose total size is KRW300 billion ($277.2 million) - will be jointly established with LTI Investments, and will count nine companies as investors, including the world’s fourth-largest pension fund, Korea’s National Pension Service, and the Korea Teachers Pension.
According to ORIX, the investment into Mirae will be made from the ORIX Private Equity Korea Corporation, its subsidiary in South Korea. The vehicle will purchase more than 21 million shares in Mirae,...
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