SEOUL, KOREA – The aggregate amount of private equity funds formed this year will surpass 8 trillion won, the record high. The number of private equity funds has also increased to more than 50. Despite the shrinking investor confidence and the slowing market, the interest in private equity funds is higher than ever.
According to the Financial Supervisory Service on December 9, the amount of private equity funds formed for the first ten months until October was 6.95 trillion won, slightly lower than 7.27 trillion won during the same period in 2010. Taking into account those funds that have been formed in November and to be organized in December, the amount will move way past the record set in 2010.
For example, Shinhan Private Equity and Stonebridge Capital registered in November a 818-billion-won fund to invest in SK Energy. Meanwhile, Q Capital has created a 60-billion-won fund to acquire Taihan Fiberoptics and make equity investment in Taihan Electric Wire.
Stic Investment will also register a secondary private equity fund of 300 billion won based on the investment money from the Korea Teachers Pension Fund and Korea Post. WIth these three funds alone, this year's total amount formed by private equity funds would be 8.1 trillion won.
*Article provided by The Korea Economic Daily
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