South Korea
VIG set for 2.5x return as Affinity agrees to buy Burger King Korea
VIG Partners – formerly known as Vogo Investment – has agreed to sell the Burger King master franchise for Korea to Affinity Equity Partners, securing an approximately 2.5x return on its investment.
South Korea's Yello Mobile raises $30m from SBI
Japanese internet finance group SBI Holdings has committed $30 million to Korean mobile internet platform Yello Mobile.
Korea's SEMA earmarks $125m for foreign PE funds
Korea Scientists & Engineers Mutual-aid Association (SEMA), which manages more than KRW3.6 trillion ($2.9 billion) in pension assets, plans to invest half of its KRW300 billion overseas allocation for 2016 in private equity.
Korea's NPS appoints new CIO
The National Pension Service of Korea (NPS) has named Myun-Wook Kang, formerly CEO of Meritz Asset Management, as its new chief investment officer.
Alibaba acquires 4% stake in Korea's SM Entertainment
Chinese internet giant Alibaba Group has acquired a 4% stake in S.M. Entertainment, a South Korean music agency, for KRW35.5 billion ($29.8 million).
MBK named preferred bidder for Doosan Infracore unit
MBK Partners has been chosen as the preferred bidder for the machine tools division of South Korean conglomerate Doosan Infracore, replacing Standard Chartered Private Equity (SCPE).
Corstone closes $124m Korea fund
US-based private equity firm Corstone Capital has closed a South Korea-focused fund at KRW150 billion ($124 million).
PE-backed e-Shang boosts Asia footprint through merger
China-based warehousing operator e-Shang, which was founded by two local entrepreneurs in conjunction with Warburg Pincus, has agreed to merge with Asian counterpart Redwood Group as it builds scale towards a public market listing.
New business needs drive VC funding demands
The venture capital market in Asia is set for growth as new market segments - notably technology-enabled business services - emerge with unmet needs.
Korea's KIC appoints new CEO
Korea Investment Corporation (KIC) has appointed Sung-Soo Eun, most recently an executive director at the World Bank, as its CEO. He will also serve as chairman of the sovereign wealth fund’s board.
Affinity set for over 6x return on Korea's Loen Entertainment - Update
Affinity Equity Partners is set for a more than 6x return on its investment in Loen Entertainment, the Korean equivalent of iTunes, following Kakao Corporation's agreement to buy a majority stake in the business.
Deal focus: IMM initiates unlikely media merger
Korean VC player IMM Investment convinces magazine publisher Design House and e-commerce business Oheim that together they can be stronger
VIG Partners buys Korean PVC window maker
VIG Partners – which recently changed its corporate name from Vogo Investment – has agreed to buy Winche, a South Korea-based manufacturer of PVC windows, for KRW135 billion ($114 million).
Formation 8 leads round for Korea's Yello Mobile
Formation 8 has re-upped in South Korean mobile internet company Yello Mobile, leading a $47.2 million financing round. The capital will be used to strengthen the company’s business domestically and across Asia.
AVCJ Awards 2015: Deal of the Year - Large Cap: Halla Visteon Climate Control
Hahn & Co spent three years talking to Visteon about its Korean subsidiary Halla Visteon Climate Control before sealing a proprietary deal supported by innovative funding
HarbourVest opens Korea office
HarbourVest Partners has opened an office in Seoul. It will be led by Minjun Chung, who is already responsible for investment opportunities and client relations in South Korea.
Korea's CJ withdraws from bidding for MBK-controlled Coway
South Korean conglomerate CJ Corporation decided against submitting a final bid for a controlling stake in Coway, a domestic water purifier manufacturer, controlled by MBK Partners.
Hamilton Lane opens Korea office
Hamilton Lane has opened an office in Seoul, the firm's 12th globally. It will be headed by Sung-ji An, who is relocating from Hong Kong.
APG, CPPIB join e-Shang in $500m Korea logistics venture
Canada Pension Plan Investment Board (CPPIB) and Dutch pension fund manager APG Asset Management will establish a logistics-focused joint venture in South Korea with e-Shang, a Chinese warehousing operator backed by Warburg Pincus.
HarbourVest makes two promotions in Asia
HarbourVest Partners has promoted two Asia-based professionals – Minjun Chung and Kanji Takenaka, who focus on South Korea and Japan, respectively – to principal.
Korea's NPS loses chairman, CIO
South Korea’s National Pension Service (NPS) is recruiting a new chairman and CIO after the two incumbents stepped down due to tensions over strategy.
Wind Point Partners buys Korean lens manufacturer
Chicago-based private equity firm Wind Point Partners has acquired Daemyung Optical, South Korea’s second-largest manufacturer of optical lenses. Financial terms were not disclosed.
China cross-border e-commerce platform raises $30m
Bolome, a Shanghai-based cross-border e-commerce platform, has raised a $30 million Series B round of funding from Chinese and South Korean investors including search engine Baidu, LB Investment, Share Capital and Chengwei Capital.
Reorient sells stake in Korean GP EQ Partners
Korean Investment Holdings has agreed to buy the entire shares in Seoul-based private equity firm EQ Partners from Hong Kong-listed financial services Reorient Group for $6.6 million in cash.