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Biz News Korea(Eng)
JKL Partners sets out to create $415 mn or above fund for M&As
- Collected
- 2017.01.05
- Distributed
- 2017.01.06
- Source
- Go Direct
According to the investment banking industry Wednesday, JKL Partners began tapping interest from potential investors among pension funds and credit unions to pool the fourth fund without specific investment target. The firm has spent 80 percent of the 335 billion won fund it created early 2015 with capital drawn from National Pension Service and others public institutions.
The fund invested 20 billion won in online and offline hotel booking service operator WithInnovation Corp. and 56 billion won in steel building constructer Ker Heung Industrial Co. last year and purchased 45 billion won worth convertible preferred stocks issued by golfwear brand Castelbajac together with Shinhan BNP Paribas Asset Management.
The firm has been delivering solid returns, yielding annual internal rate of return of 23 percent last year helped by sales of its stake-holding in Dual Co., airbag supplier.
By Kang Doo-soon
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