VIG Partners
Korea culture plays: Brands apart
Korean pop music is being used as a marketing tool for a long tail of consumers products and services. While investors are keen to leverage star power, they recognize it doesn’t last forever
Korea cross-border consumer: Dining out
Restaurant chains can potentially ride on the tailwinds generated by demand for Korean cultural exports, but strong execution is ultimately the key factor in overseas expansion
Korean carve-outs: Network effects
Chaebol carve-outs have historically been elusive for global firms operating in Korea. A growing appreciation of their value-add capabilities could be the catalyst needed to direct more deals their way
VIG to make full exit from Korea's Samyang Optics
VIG has agreed to make a full exit from Korean camera lens manufacturer Samyang Optics – having taken the business public in 2017 – and will realize a 3.5x gross return on its investment.
VIG hits $530m first close on fourth Korean fund
VIG Partners has reached a first close of $530 million on its fourth Korea-focused fund, with international investors accounting for more than 60% of commitments received so far.
PE holding periods: The optics of exits
Should you take a 3x return today or wait for a potentially larger exit next year? For GPs, this decision is complicated by fears of a downturn, the timing of future fundraises, and conflicting LP feedback
Deal focus: Bonchon flies the coop
VIG Partners acquires Bonchon, a Korean-headquartered fried chicken restaurant chain with a global presence, with an eye to growing the business worldwide
VIG buys global Korean fried chicken franchise
VIG Partners has agreed to buy a 55% stake in Bonchon International, a Korean fried chicken restaurant brand with 325 outlets across eight countries. The size of the transaction was not disclosed.
VIG-owned Hi-Parking buys Wilson Parking Korea
HiParking, a Korean parking managing business owned by VIG Partners, has agreed to buy Wilson Parking Korea as part of an industry consolidation play.
Deal sourcing: Priority access
While proprietary deals are not always possible in Asian private equity, there are many ways for GPs to gain an edge even when competing with multiple bidders for the same asset
Korean GPs worry about valuations, wage hikes - AVCJ Forum
South Korean private equity investors warned the AVCJ Forum that valuations and an increase in the minimum wage could play havoc in the market next year following what has so far been a relatively benign 2018.
Korea PE outlook: Exit issues
While Korea’s private equity market remains relatively stable, a much-anticipated opening up of IPO exits has yet to come to fruition
Operational value-add: Sweat equity
As Asian GPs trial a range of operational value-add strategies with an eye on shifting market dynamics, they are discovering that helping portfolio companies requires self-inspection
Activism not yet a key driver of Korean corporate divestments - AVCJ Forum
Shareholder activism is becoming more prevalent in Korea among the country’s chaebol groups, but it still trails distress sales and divestments of non-core divisions as sources of private equity deal flow.
Korean IPOs: The public eye
A growing number of South Korean buyout firms are testing the waters for domestic IPOs. Continued regulatory hurdles mean that realizing value will require planning for the post-offer period
Korean project funds: Lines of sight
The prevalence of project funds in Korea is routinely linked to local institutional investors’ innate discomfort with blind pool vehicles. But is this dynamic holding back middle market managers?
VIG nets 2.1x return on Korea price comparison site deal
VIG Partners has agreed to sell its controlling stake in Summerce Platform, operator of the Korean online price comparison website Enuri.com, to local e-commerce player Koreacenter for KRW105 billion ($97.8 million).
VIG invests $129m in Korean eyewear retailer
VIG Partners has agreed to pay KRW137.5 billion ($129 million) for an approximately 42% stake in Korean beauty contact lens and fashion sunglasses retailer Star Vision.
Deal focus: VIG’s food supply chain upgrade
VIG Partners acquires Korean food wholesaler WinPlus in a bid to consolidate the country's food supply chain
VIG buys Korean food wholesaler for $69m
VIG Partners has agreed to buy an 83.1% stake in Korean food wholesaler WinPlus for KRW74 billion ($69 million). The investment includes a primary capital injection of KRW45 billion.
Deal focus: VIG sees stability in shoes
Korea's VIG Partners completes its second OEM deal in six months with the $207 million acquisition of Youyoung, a supplier of materials used in running shoes
VIG buys Korean sports shoe materials supplier
VIG Partners has acquired Youyoung, a Korea-based supplier of materials used in running shoes, for an enterprise valuation of KRW220 billion ($207 million).
AVCJ Awards 2017: Deal of the Year - Mid Cap: Press & Converting
With Korean cosmetics brands trading at high valuations, VIG Partners thinks it got a bargain by moving upstream and buying a niche supplier to the skincare industry
GPs must be selective in targeting Korea divestments – AVCJ Forum
Korea's push for chaebol reform is expected to create more PE investment opportunities as conglomerates are pressured to divest assets, but GPs told the AVCJ Korea Forum that they have to be careful in picking the right deals because asset quality varies.