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Biz News Korea(Eng)
MBK Partners raises $4.1 bn for a new equity fund
- Collected
- 2016.12.08
- Distributed
- 2016.12.09
- Source
- Go Direct
이미지 확대According to investment bank industry sources on Tuesday, MBK Partners newly raised a $4.1 billion fund after it succeeded in attracting funds from a number of big local and offshore institutional investors including Singapore sovereign wealth fund Government of Singapore Investment Corporation and Canada Pension Plan Investment Board.
Seoul-based MBK Partners whose assets under management are estimated at $15 billion operates offices throughout Asia including China, Japan and Hong Kong. It mainly invests in companies in Northeast Asia region.
Starting with its first fund worth $1 billion in 2005, it had created two additional funds worth $1.5 billion and $2.7 billion in 2008 and 2013, respectively. Its total operating asset value is nearly double that of Asia’s second largest PEF operator Affinity Equity Partners based in Hong Kong. MBK Partners’ latest $4.1 billion fund is also the largest single fund in Asia, followed by Affinity Equity Partners’ fund number 4 worth $3.8 billion.
Armed with enough ammunition, MBK Partners is expected to continue to play a critical role in the mergers-and-acquisitions market, an unnamed investment bank industry official said.
The total assets under management that the Korean PEF currently operates in firms amounts to 18.3 trillion won ($15.6 billion).
By Han Woo-ram
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]