MBK Partners

MBK Partners (MBKP) is a South Korean private equity firm focused on North Asia.[3][4] According to Forbes, MBK Partners is one of the largest private equity firms in Asia, managing $25 billion worth of assets.[5]

MBK Partners Ltd.
TypePrivate Ownership
IndustryPrivate Equity
Founded2005 (2005)
FoundersMichael ByungJu Kim
AUMUS$25.6 billion (2021)[1]
Websitehttps://www.mbkpartnerslp.com
Footnotes / references
[2]

Overview

MBK Partners was founded in 2005 by Michael ByungJu Kim and several other senior Asian executives from the Carlyle Group.[6][7][8]

In January 2022, a 13% stake of the firm was sold to Dyal Capital Partners.[8]

The firm has two main businesses, Buyouts and Special Situations.[9] MBK Partners' investment focus is in North Asian regions, namely China, Japan and South Korea.[3][4][9]

MBK Partners has offices in Beijing, Hong Kong, Seoul, Shanghai and Tokyo.[10]

Funds
Fund[11] 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[12]
MBK Partners V 2020 USD 6,500
Special Situations II 2020 USD 1,800[8]

Notable investments

Notable transactions

In May 2009, MBKP and Goldman Sachs acquired a 98.3% stake in Universal Studios Japan for US$1.4 billion.[14]

In August 2013, MBKP acquired ING's South Korean insurance unit for total cash proceeds of 1.84 trillion won ($1.65 billion).[15]

In November 2014, MBKP 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 MBKP, CPPIB and Temasek Holdings for £4 billion.[16]

In October 2016, MBKP and TPG Capital acquired Wharf T&T from The Wharf (Holdings) for HK$9.5 billion ($1.2 billion).[17] In August 2018, Wharf T&T was sold to Hong Kong's telecom operator HKBN for HK$10.5 billion ($1.34 billion).[18]

In February 2019, MBKP acquired Godiva Chocolatier's Asian-Pacific operations for $1.5 billion.[19]

References
  1. "MBK pays US$1 billion for five maritime theme parks from Haichang". South China Morning Post. 24 December 2021.
  2. "Form ADV" (PDF). SEC. Retrieved 24 November 2022.
  3. "The continued rise of South Korean private equity" (PDF). McKinsey & Company. July 2018.{{cite web}}: CS1 maint: url-status (link)
  4. Shin; Chung, Kim-Joon Hyug; Song, Chang-Hyun; Lee, Tong-Gun; Shin, Dong Il; Myong-HyonRyu; Kun, Tong (17 August 2020). "Private equity investing in South Korea | Lexology". www.lexology.com. Retrieved 2021-01-15.
  5. Flanner, Russell (December 23, 2021). "MBK Wraps Up China Theme Park Purchases Worth $950 Million". Forbes. MBK is one of Asia's largest private equity businesses with $25 billion of assets under management.
  6. "MBK Partners Investor Profile: Portfolio & Exits | PitchBook". pitchbook.com. Retrieved 2021-06-18.
  7. "Michael Kim". Forbes. Retrieved 2021-12-24.
  8. Chan, Cathy (January 12, 2022). "Billionaire Michael Kim's Private Equity Firm Sells Stake to Dyal Capital". www.bloomberg.com. Retrieved 2022-01-12.{{cite web}}: CS1 maint: url-status (link)
  9. "Strategy". MBK Partners. Retrieved 15 January 2021.{{cite web}}: CS1 maint: url-status (link)
  10. "Contact". MBK Partners. Retrieved 15 January 2021.{{cite web}}: CS1 maint: url-status (link)
  11. "MBK Partners | Palico". www.palico.com. Retrieved 2021-01-15.
  12. 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.
  13. Global, K. E. D. "MBK sees most productive year ever, returning $5.3 bn to investors". KED Global. Retrieved 2022-10-22.
  14. "MBK Takes Over Universal Studios Japan". koreatimes. 2009-05-26. Retrieved 2021-01-15.
  15. 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.
  16. "Tesco sells South Korea stores for £4bn". BBC News. 2015-09-07. Retrieved 2021-01-15.
  17. "HK tycoon Woo's Wharf agrees to sell telecom unit to TPG, MBK for $1.2 bln". finance.yahoo.com. Retrieved 2021-01-15.
  18. 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.
  19. "Chocolatier Godiva to sell Asian-Pacific operations to MBK Partners". CNBC. 2019-02-20. Retrieved 2021-01-15.
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