H&Q Korea completes divestment of NPS-sponsored Fund I
H&Q Korea has completed the full divestment of its first domestic Korean fund, the H&Q NPS Private Equity Fund I (PEF I), which closed in October 2005 at KRW300 billion ($293 million), with the sale of its last portfolio company, KSNET, a leading payments processor, to a strategic buyer.
PEF I, anchored by the National Pension Service (NPS) of Korea, generated a gross IRR for H&Q Korea and its LPs of 30% for a 2.1x return on invested capital. A so-called “first generation domestic fund,”...
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