MBK Partners, a North Asia-focused private equity firm founded by billionaire Michael Kim, has agreed to sell a roughly 13% stake to Dyal Capital Partners, according to people with knowledge of the matter.
The transaction is valued at about $1 billion, the people said, asking not to be identified because the information is confidential. The move is designed to fuel MBK’s expansion in the region and bolster its global investor base, one of the people said.
MBK has been on a fundraising spree amid the pandemic, raising $6.5 billion for its fifth buyout fund in May 2020 and $1.8 billion in November for its second special situation fund. Its second and third buyout funds have almost tripled in value, while its fourth fund and first special situation fund have doubled.
Global private equity firms have expanded in Asia beyond leveraged buyouts in the past few years. KKR & Co. has added assets in strategies such as real estate and infrastructure and advising portfolio companies on capital markets financing, while Bain Capital and Carlyle Group are seeking to grow in the credit business.
Read more: BNN Bloomberg