TRG opens South Korea office

The office, located in Seoul, will be TRG's 15th worldwide. It will pursue investments in domestic private equity opportunities in Korea and will aim to complement the firm's existing investment activities in Asia, which include private equity, real estate, infrastructure and fixed income assets. Gordon Cho, who is currently a managing director in the firm's Hong Kong office, will manage the Korea branch.

"Korean deal flow remains strong, driven by continued chaebol restructurings, secondary deals and companies looking for a broader set of financing options," said Cho in a statement. "We see Korean companies as strong candidates for expansion in Asia, a core area of expertise for TRG, given the high quality and popularity of Korean products."

TRG's investments in Korea include fast food franchise BHC, which it acquired in 2014 for KRW113 billion ($102 million) through its subsidiary Citi Venture Capital International (CVCI), the former emerging markets private equity unit of Citigroup. TRG bought CVCI from Citigroup in 2013 for an undisclosed sum; the following year it acquired a 60% stake in Singapore-based PE infrastructure investor CapAsia from Malaysian bank CIMB.

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