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Korea’s NH Investment to pool more funds for private equity invest
Collected
2017.01.03
Distributed
2017.01.04
Source
Go Direct
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South Korea’s NH Investment & Securities Co. aims to pool in more than 500 billion won ($414 million) this year from financial services under NongHyup Financial Group to reinforce its private equity operation.

According to investment bank sources on Sunday, NH Investment & Securities reportedly will create a blind pool of at least 500 billion won through investment from NH units that manage combined assets of around 360 trillion won.

The addition would reinforce the company’s private equity fund capacity to 1.5 trillion won. The company is still looking for target for 300 billion won investment left in the current fund of 1 trillion won.

The brokerage house hopes to spin off the private equity fund operation once it becomes big and strong enough. It has become eager on the field upon gaining lucrative returns.

The company’s PE in a consortium with Glenwood Private Equity acquired Tongyang Magic at about 300 billion won in 2014 and sold the entire stake in Tongyang Magic for 610 billion won SK Networks Co. in 2016. NH units earned more than 100 billion won from the deal.

By Kang Doo-soon

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]