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Jay-Z's investment fund, Hanwha Asset join hands for K-culture-focused PEF

Published: 09 Dec. 2025, 16:18

Rapper Jay-Z, left, and singer-songwriter Beyonce attend the world premiere of Disney's ″Mufasa: The Lion King″ (2024) at the Dolby Theatre in Hollywood on Dec.9, 2024. [AFP/YONHAP]

U.S. rapper Jay-Z's investment fund has joined hands with a Korean asset manager to raise a private equity fund (PEF) that invests in Korean entertainment, beauty and lifestyle, a Hanwha representative said on Tuesday.

MarcyPen Capital Partners, which is backed by the rapper, recently signed a memorandum of understanding with Hanwha Asset Management to launch the fund, according to the representative, who did not confirm the fund's exact launch date.

The Financial Times reported that the two companies are targeting a fund of around $500 million.

Korean pop culture has exploded in popularity recently amid the rise of K-pop stars, such as girl group Blackpink and boy band BTS, as well as Korean content, including the Netflix series “Squid Game” (2021-) and the Netflix animated film “KPop Demon Hunters.”

Food, cosmetics and fashion have become the country's major export products amid the so-called Korean Wave, prompting global private equity funds to invest in these sectors.

Hanwha Asset Management is part of Hanwha Group, which also owns Korea's defense giant Hanwha Aerospace. The firm's total assets under management stood at 103.3 trillion won ($70.3 billion) as of January.

Yonhap