MBK Partners

Last updated

MBK Partners Ltd.
Company type Private Ownership
Industry Private Equity
Founded2005;19 years ago (2005)
Founders Michael ByungJu Kim
AUM US$30 billion (2023)
Website www.mbkpartnerslp.com
Footnotes /references
[1]

MBK Partners (MBKP) is a private equity firm focused on North Asia. [2] According to Forbes, MBK Partners is one of the largest private equity firms in Asia. [3]

Contents

In 2023, Private Equity International , ranked MBK Partners as the eighth largest private equity firm in Asia based on total fundraising over the most recent five-year period. [4]

Overview

MBK Partners was founded in 2005 by Michael ByungJu Kim and several other senior Asian executives from the Carlyle Group. [2] [5] [6] [7] [8]

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

MBK Partners' investment focus is in North Asian regions, namely China, Japan and South Korea. [2] [3]

MBK Partners has offices in Beijing, Hong Kong, Seoul, Shanghai and Tokyo. [9]

Funds

Fund [10] Vintage YearCommitted Capital ($m)
MBK Partners I2005USD 1,560
MBK Partners II2009USD 1,500
MBK Partners III2013USD 2,700
MBK Partners IV2016USD 4,100
Special Situations I2018USD 850 [11]
MBK Partners V2020USD 6,500
Special Situations II2020USD 1,800 [8]
MBK Partners VI2023USD 7,000 [12]

Notable transactions

In May 2009, MBKP and Goldman Sachs acquired a 98.3% stake in Universal Studios Japan for US$1.4 billion. [13]

In August 2013, MBKP acquired ING's South Korean insurance unit for total cash proceeds of 1.84 trillion won ($1.65 billion). [14]

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. [15]

In October 2016, MBKP and TPG Capital acquired Wharf T&T from The Wharf (Holdings) for HK$9.5 billion ($1.2 billion). [16] In August 2018, Wharf T&T was sold to Hong Kong's telecom operator HKBN for HK$10.5 billion ($1.34 billion). [17]

In February 2019, MBKP acquired Godiva Chocolatier's Asian-Pacific operations for $1.5 billion. [18]

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References

  1. ↑ "Form ADV" (PDF). SEC. Archived (PDF) from the original on 20 February 2023. Retrieved 24 November 2022.
  2. 1 2 3 Global, K. E. D. "MBK's deals rank among top 2021 PE exits in N.Asia". KED Global. Archived from the original on 15 July 2023. Retrieved 15 July 2023.
  3. 1 2 Flanner, Russell (23 December 2021). "MBK Wraps Up China Theme Park Purchases Worth $950 Million". Forbes. Archived from the original on 20 May 2022. Retrieved 16 March 2024. MBK is one of Asia's largest private equity businesses with $25 billion of assets under management.
  4. ↑ "PEI 300 | The Largest Private Equity Firms in the World". Private Equity International. 1 June 2023. Archived from the original on 31 May 2023. Retrieved 22 July 2023.
  5. ↑ Staff, P. E. I. (30 December 2012). "Kim launches MBK Partners". Private Equity International. Archived from the original on 15 July 2023. Retrieved 15 July 2023.
  6. ↑ Global, K. E. D. "MBK Partners co-founder tops 50 richest S.Koreans: Forbes". KED Global. Archived from the original on 15 July 2023. Retrieved 15 July 2023.
  7. ↑ "Michael Kim". Forbes. Archived from the original on 23 December 2021. Retrieved 24 December 2021.
  8. 1 2 3 Chan, Cathy (12 January 2022). "Billionaire Michael Kim's Private Equity Firm Sells Stake to Dyal Capital". www.bloomberg.com. Archived from the original on 12 January 2022. Retrieved 12 January 2022.
  9. ↑ "Contact". MBK Partners. Archived from the original on 4 December 2020. Retrieved 15 January 2021.
  10. ↑ "MBK Partners | Palico". www.palico.com. Retrieved 15 January 2021.
  11. ↑ Edition, The Korea Economic Daily Global. "MBK Partners sees 2nd special situations fund launch in H2". The Korea Economic Daily Global Edition. Archived from the original on 21 January 2021. Retrieved 15 January 2021.
  12. ↑ Wang, Eudora (10 November 2023). "China, Japan and South Korea-focused MBK raising sixth flagship fund". Nikkei Asia. Archived from the original on 12 March 2024. Retrieved 2 March 2024.
  13. ↑ "MBK Takes Over Universal Studios Japan". koreatimes. 26 May 2009. Archived from the original on 20 May 2022. Retrieved 15 January 2021.
  14. ↑ Thomas, Joyce Lee, Denny (26 August 2013). "ING's Asia exit plan nears end as MBK agrees to buy South Korea unit". Reuters. Archived from the original on 18 May 2021. Retrieved 15 January 2021.{{cite news}}: CS1 maint: multiple names: authors list (link)
  15. ↑ "Tesco sells South Korea stores for £4bn". BBC News. 7 September 2015. Archived from the original on 8 September 2015. Retrieved 15 January 2021.
  16. ↑ "HK tycoon Woo's Wharf agrees to sell telecom unit to TPG, MBK for $1.2 bln". finance.yahoo.com. Archived from the original on 20 May 2022. Retrieved 15 January 2021.
  17. ↑ Rai, Kane Wu, Sonam (8 August 2018). "Hong Kong's telecom operator HKBN to buy WTT in $1.34 billion deal". Reuters. Archived from the original on 20 May 2022. Retrieved 15 January 2021.{{cite news}}: CS1 maint: multiple names: authors list (link)
  18. ↑ "Chocolatier Godiva to sell Asian-Pacific operations to MBK Partners". CNBC. 20 February 2019. Archived from the original on 4 February 2021. Retrieved 15 January 2021.
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