South Korea
Korean middle market: Up the ladder
Interest from foreign LPs in Korea’s middle-market is rising, but the segment is still dominated by domestic institutional investors. Changes to this dynamic are unlikely to arrive soon
Affinity buys majority stake in Korean food container maker
Affinity Equity Partners has agreed to acquire a majority stake in Lock & Lock, a South Korean manufacturer of airtight food containers and kitchen household goods for KRW629.3 billion ($562 million).
SparkLabs launches $50m Korea, SE Asia venture fund
SparkLabs Global Ventures has launched a $50 million venture capital fund that will make Series A and B investments in Korean and Southeast Asian start-ups.
Crescendo Equity, Lindman back Korean software developer Hancom
Hancom, a South Korea-listed software developer, has raised KRW60 billion ($53 million) from two private equity firms.
Portfolio: The Rohatyn Group and BHC
The Rohatyn Group bought Korean fried chicken franchise BHC in 2013 with a view to ironing out inefficiencies, broadening brand appeal, and pursuing bolt-on acquisitions. It has made progress in each area
WeWork to acquire Singapore's VC-backed Spacemob
US-based co-working space operator WeWork plans to acquire Singapore-based counterpart Spacemob for an undisclosed sum. The capital will come from a $500 million investment pool established to fuel WeWork's expansion in Southeast Asia and South Korea.
Deal focus: KKR hits the gas on Korea auto carve-out
KKR has backed two divisions of Korea's LS Group - worth a combined $940 million - giving it exposure to an established auto parts business and a division that could prosper on the back of the electric car boom
Secondary buyouts: Peer to peer
Maligned by some investors, sponsor-to-sponsor deals are gradually becoming more prevalent in Asia as the private equity industry matures. What is the early verdict?
China First Capital to acquire Korean online education platform
Hong Kong-listed investment group China First Capital plans to acquire 54% of SJW International, a Korea-based online video English training platform, for about $135 million.
KKR backs auto parts spin-out from Korea's LS Group
KKR has agreed to back automotive parts maker LS Automotive (LSA), a spin-out from Korean conglomerate LS Group, and to acquire the copper foil and flexible copper clad laminate business of LS Group affiliate LS Mtron.
Korea's SK invests $334m in PE-backed e-Shang Redwood
Korean conglomerate SK Group has agreed to invest KRW372 billion ($334 million) in pan-Asian logistics player e-Shang Redwood (ESR), valuing the private equity-backed business at approximately $2.8 billion.
Korea's NPS loses CIO
The CIO of South Korea’s National Pension Service (NPS) has submitted his resignation, seven months before the end of his two-year tenure.
Liberty House beats Korean PE consortium to Arrium deal
A group led by UK-based industrials and metals group Liberty House has agreed to acquire distressed Australian mining giant Arrium, beating out a private equity-backed Korean consortium.
VIG pays $127m for majority stake in Korean skincare player
VIG Partners has agreed to buy a 73% stake in Press & Converting, a Korea-based manufacturer of facial masks primarily used for skincare, in a deal worth KRW146 billion ($127 million).
TPG leads $437 million investment in Kakao's ride-hailing business
A TPG Capital-led consortium has agreed to invest KRW500 billion ($437.5 million) in a transportation-focused spin-out of South Korean internet services company Kakao Corp.
Korean GP buys majority stake in Vietnam’s VNPT ePay
UTC Investment, a private equity firm backed by South Korean food producer Daesang Corporation, has finalized its acquisition of a 65% stake in VNPT ePay, the electronic payment arm of Vietnam’s VMG Media.
KVIC, US tech player launch Korea VC fund
Government-back fund-of-funds Korea Venture Investment Corporation (KVIC) and Applied Ventures, the VC arm of US-listed technology developer Applied Materials, have jointly launched a fund focused on Korea start-ups.
Korean PE consortium named preferred bidder for Arrium
A consortium headed by two Korean private equity firms and supported by domestic steelmaker Posco has been selected as the preferred bidder for distressed Australian mining and minerals giant Arrium.
Canadian AI player raises $102m Series A for Asia push
China’s Tencent Holdings and Korea’s Hanwha Investment have backed a $102 million Asian expansion drive by Canadian artificial intelligence developer Element AI. It is said to be the largest Series A round ever raised by an AI company.
Korea's NPS boosts alternatives allocation to 11.4%
The National Pension Service of Korea (NPS) continued its steady growth in alternatives exposure, with its allocation increasing from 10.7% to 11.4% over the course of 2016 – which equates to additional capital of KRW9 trillion ($7.9 billion) – as...
IMM increases commitment to Korean shipbuilder
IMM Investment has agreed to invest another KRW100 billion ($89 million) in Korean shipbuilder Hyundai Samho Heavy Industries (HSHI).
Skylake invests $53m in Korean O2O services player
Skylake Investment has committed KRW60 billion ($53 million) in Yanolja, a South Korean online-to-offline (O2O) local services platform best known for providing discount hotel deals.
PE-owned Samyang closes up on debut after $60m IPO
Korean camera lens manufacturer Samyang Optics ended its first day of trading on KOSDAQ at a slight premium to its IPO price, having raised KRW66.8 billion ($60 million) in the offering and enabled VIG Partners to make a partial exit.
Korean culture plays: Sitting pretty?
Private equity is riding the 'Korean wave' by investing in cultural assets - from music to TV dramas to beauty products – that have international appeal. Success hinges on execution as much as macro trends