Chinese group buys stake in Korean private equity firm

Home > Business > Economy

print dictionary print

Chinese group buys stake in Korean private equity firm

A Chinese financial firm said yesterday that it has signed an agreement to buy about a third of a Korean private equity firm, in a move to enter Korea’s private equity sector.

Reorient Group, an affiliate of conglomerate China Chengtong Development Group, will acquire a 33.3 percent stake in Seoul-based EQ Partners, it said in a statement. The deal will be worth 4.5 billion won. Under the agreement, James Kim, the head of EQ Partners, will remain with the firm.

EQ Partners, which spun out of financial group Korea Investment Holdings in 2010, has $800 million in assets under management. Yonhap

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
s
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now