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Shinhan and Kohlberg Kravis Roberts create a fund

Jan 10,2020
Shinhan Financial Group said Thursday it joined forces with global private equity fund operator Kohlberg Kravis Roberts (KKR) to create a $200 million fund to raise its alternative investment competency and secure additional income sources.

Shinhan expects the partnership to help it learn some investment tips from the world’s leading private equity fund operator.

“The newly established fund is a so-called ‘tailor-made’ one because unlike the ordinary fund where an operator makes investments and only brings the results such as the profit to the client, we can intervene in the investment-making process,” said an official from the group.

“We can discuss with KKR which investment will be better for us and also see how they make investment decisions.”

KKR is a leading investment company established in 1975. It manages $194.7 billion in more than 16 countries worldwide.

Shinhan agreed to dedicate $150 million worth of the fund to private equity funds and the remaining $50 million to safer assets such as real estate and infrastructure.

“The latest partnership with KKR will be of good opportunity to raise profits through alternative investment,” said Shinhan Financial Group Chairman Cho Yong-byoung. “I plan to fortify partnerships with asset management companies to raise the group’s global alternative investment competency.”

BY JIN EUN-SOO [jin.eunsoo@joongang.co.kr]


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