MBK Partners

MBK Partners (Korean: MBK 파트너스) is the largest private equity company in South Korea.[1][2] The firm offers capital structure balancing, company merger, company acquisitions, financial consulting and other services.

MBK Partners
Native name
MBK 파트너스
TypePrivate Ownership
IndustryPrivate Equity
Founded2005 (2005)
FoundersMichael ByungJu Kim
HeadquartersJongno District, Seoul, South Korea
AUMUS$24 billion (2021)
Websitehttps://www.mbkpartnerslp.com

Overview

MBK partners was founded in 2005 by Michael ByungJu Kim.[3] Previously Kim was president of Carlyle Asia.

The firm is headquartered in Seoul[4] with offices in Beijing, Hong Kong, Shanghai and Tokyo.[5]

The firm has two main businesses, Buyouts and Special Situations.[6] MBK Partners' investment focus is in North Asia, namely South Korea as well as China, Hong Kong and Japan.

Funds
Fund[7] Vintage Year Committed Capital ($m)
MBK Partners I 2005 USD 1,560
MBK Partners II 2009 USD 1,500
MBK Partners III 2013 USD 2,700
MBK Partners IV 2016 USD 4,100
Special Situations I 2018 USD 850[8]
MBK Partners V 2020 USD 6,500

Notable investments

Notable transactions

In May 2009, MBK and Goldman Sachs acquired a 98.3% stake in Universal Studios Japan for 1.4 billion.[9]

In August 2013, MBK acquired ING's South Korean insurance unit for total cash proceeds of 1.84 trillion won ($1.65 billion).[10]

In November 2014, MBK sold accounting software maker, Yayoi Co to Japanese financial services provider, Orix Corp for 80 billion yen ($691 million).

In September 2015, Tesco sold its South Korean business, Homeplus, to MBK, CPPIB and Temasek Holdings for £4 billion.[11]

In October 2016, MBK and TPG Capital acquired Wharf T&T from The Wharf (Holdings) for HK$9.5 billion ($1.2 billion).[12] In August 2018, Wharf T&T was sold to Hong Kong's telecom operator HKBN for HK$10.5 billion ($1.34 billion).[13]

In February 2019, MBK acquired Godiva Chocolatier's Asian-Pacific operations for $1.5 billion.[14]

References
  1. "The continued rise of South Korean private equity" (PDF). McKinsey & Company. July 2018.
  2. Shin; Chung, Kim-Joon Hyug; Song, Chang-Hyun; Lee, Tong-Gun; Shin, Dong Il; Myong-HyonRyu; Kun, Tong. "Private equity investing in South Korea | Lexology". www.lexology.com. Retrieved 2021-01-15.
  3. "MBK Partners Investor Profile: Portfolio & Exits | PitchBook". pitchbook.com. Retrieved 2021-06-18.
  4. "MBK Partners (MBK Partners) - Asset Manager, South Korea - SWFI". www.swfinstitute.org.
  5. "Contact". MBK Partners. Retrieved 15 January 2021.
  6. "Strategy". MBK Partners. Retrieved 15 January 2021.
  7. "MBK Partners | Palico". www.palico.com. Retrieved 2021-01-15.
  8. Edition, The Korea Economic Daily Global. "MBK Partners sees 2nd special situations fund launch in H2". The Korea Economic Daily Global Edition. Retrieved 2021-01-15.
  9. "MBK Takes Over Universal Studios Japan". koreatimes. 2009-05-26. Retrieved 2021-01-15.
  10. Thomas, Joyce Lee, Denny (2013-08-26). "ING's Asia exit plan nears end as MBK agrees to buy South Korea unit". Reuters. Retrieved 2021-01-15.
  11. "Tesco sells South Korea stores for £4bn". BBC News. 2015-09-07. Retrieved 2021-01-15.
  12. "HK tycoon Woo's Wharf agrees to sell telecom unit to TPG, MBK for $1.2 bln". finance.yahoo.com. Retrieved 2021-01-15.
  13. Rai, Kane Wu, Sonam (2018-08-08). "Hong Kong's telecom operator HKBN to buy WTT in $1.34 billion deal". Reuters. Retrieved 2021-01-15.
  14. "Chocolatier Godiva to sell Asian-Pacific operations to MBK Partners". CNBC. 2019-02-20. Retrieved 2021-01-15.
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