South Korea
IMM-backed consortium pays $2.1b for stake in Korea's Woori Bank
IMM Private Equity is one of seven investors that have acquired a combined 29.7% stake in Woori Bank, a Korean lender that has been under government control since 2001, for KRW2.4 trillion ($2.1 billion).
Asia’s LP landscape
Asia is increasingly a target for private equity firms on the fundraising trail, but the region’s LP base can be difficult to penetrate, with huge variations in size, appetite and sophistication
Acushnet gains on debut after lowering IPO price
Korea's PE-backed Acushnet Holdings, which owns the Titleist and FootJoy golf brands, saw its shares jump 5.9% in the first day of trading on the New York Stock Exchange following a smaller-than-expected $328.7 million IPO.
STIC raises $530m for Korea special situations fund
STIC Investments has raised $530 million for a special situations fund that will target restructuring opportunities involving South Korean conglomerates.
Corporate carve-outs: Who's selling?
Certain markets in Asia represent a target-rich environment for corporate carve-outs, but private equity firms must be patient in waiting for deals to emerge
Partners For Growth commits $15m to Yello Mobile's marketing unit
Yello Digital Marketing (YDM), the digital marketing unit of South Korean mobile internet company Yello Mobile, has received $15 million in funding from Partners For Growth (PFG), the PE arm of SVB Financial Group.
IMM closes third Korea fund at $1.15b
IMM Private Equity has closed its third Korea-focused fund at approximately KRW1.25 trillion ($1.15 billion), having seen an uptick in foreign investor participation compared to the previous vehicle.
Korean PE investors set for partial exits in Acushnet IPO
Several Korean private equity investors are poised to make a partial exit as Acushnet Holdings, owner of the Titleist and FootJoy golf brands, set a target of $463.9 million for its US IPO.
Portfolio: VIG Partners and Samyang Optics
When VIG Partners acquired Korea-based Samyang Optics, the company was a camera lens manufacturer with untapped potential. It is now looking to challenge the global elite
Korea's POBA commits $120m to US mezzanine managers
South Korea’s Public Officials Benefit Association (POBA) has allocated $120 million to US mezzanine funds managed by Crescent Capital Group, Falcon Investment Advisors and GoldPoint Partners.
MBK loses Greater China head KC Kung
Kuo-Chan Kung, partner and head of Greater China at MBK Partners – and a member of the original team that spun out from The Carlyle Group in 2005 – is leaving the firm.
PE-backed Gong Cha Korea to acquire global parent
Gong Cha Korea, the Unison Capital-backed franchise of the global bubble tea franchise Gong Cha, will take a controlling stake in the Taiwan-based parent company.
Deal focus: VIG sees upside in sector that will never die
Korea's ageing population means greater demand for funeral services and smaller household sizes suggest a growing need for support to pay for them. In Good Sangjo, VIG Partners believes it has a business that can capitalize on these trends
Deal focus: Korean start-up looks beyond fintech logjam
Viva Republica's payments app is said to be the fastest-growing of its kind globally, but the company is now looking to expand into other geographies and other areas of financial services
VIG secures $480m first close on third Korea fund
VIG Partners has reached a first close of $480 million on its third Korea-focused fund. The GP, which was formerly known as Vogo Investment, is expected to reach its target of $600 million by the end of the year.
VIG invests in Korean funeral services provider
VIG Partners – formerly known as Vogo Investment – has secured the first investment from its third fund with an agreement to buy a controlling stake in Good Sangjo, a Korean funeral services provider, for KRW65 billion ($58.6 million).
Glenwood, NH agree $561m sale of Korea's Tongyang Magic
Glenwood Private Equity and NH Private Equity have agreed to sell Korean consumer appliances manufacturer Tongyang Magic to SK Networks for KRW619 billion ($561 million).
Korea's Viva Republica gets $23.7m Series B
Goodwater Capital and Qualcomm Ventures have led a $23.7 million Series B funding round for South Korean financial technology provider Viva Republica.
SK Networks named preferred bidder for PE-owned Tongyang Magic
SK Networks is on pole position to acquire Tongyang Magic, a Korean consumer appliances manufacturer owned by Glenwood Private Equity and NH Private Equity, after being named preferred bidder.
CVC to buy Korean courier Logen from Baring Asia
CVC Capital Partners has agreed to buy Logen, South Korea’s leading courier company focused on small to mid-volume customers, from Baring Private Equity Asia.
TRG opens South Korea office
The Rohatyn Group (TRG), a global emerging markets asset management firm, has opened an office in South Korea.
Private debt: Pulling uphill
Selling Asian LPs on private credit strategies remains difficult for the most part, but fund managers are generally confident that interest in the asset class is set to take off
MBK shelves plan to exit Korea's Coway
MBK Partners has suspended plans to sell its holding in listed South Korean water purifier business Coway because the stock is thought to be undervalued.
Korean LPs back Lindeman's $273m China fund
Lindeman Asia Investment, a South Korea and China-focused PE firm that concentrates on small and medium-sized enterprises, has launched a KRW300 billion ($273 million) fund with backing from domestic LPs.