MBK Partners

MBK Partners (MBKP) is a North Asian focused private equity firm.[2][3]

MBK Partners
TypePrivate Ownership
IndustryPrivate Equity
Founded2005 (2005)
FoundersMichael ByungJu Kim
AUMUS$25.6 billion (2021)[1]
Websitehttps://www.mbkpartnerslp.com

Overview

MBK Partners was founded in 2005 by Michael ByungJu Kim and several other senior Asian executives from the Carlyle Group.[4][5][6] According to Forbes, MBK Partners is one of the largest private equity firms in Asia, managing $25 billion worth of assets.[7]

MBK Partners has offices in Beijing, Hong Kong, Seoul, Shanghai and Tokyo.[8]

The firm has two main businesses, Buyouts and Special Situations.[9] MBK Partners' investment focus is in North Asian regions, namely China, Japan and South Korea.[2][3][9]

In January 2022, a 13% stake of the firm was sold to Dyal Capital Partners.[6]

Funds
Fund[10] Vintage Year Committed Capital ($m)
MBK Partners I 2005 USD 1,560
MBK Partners II 2009 USD 1,500
MBK Partners III 2013 USD 2,700
MBK Partners IV 2016 USD 4,100
Special Situations I 2018 USD 850[11]
MBK Partners V 2020 USD 6,500
Special Situations II 2020 USD 1,800[6]

Notable investments

Notable transactions

In May 2009, MBKP and Goldman Sachs acquired a 98.3% stake in Universal Studios Japan for 1.4 billion.[12]

In August 2013, MBKP acquired ING's South Korean insurance unit for total cash proceeds of 1.84 trillion won ($1.65 billion).[13]

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.[14]

In October 2016, MBKP and TPG Capital acquired Wharf T&T from The Wharf (Holdings) for HK$9.5 billion ($1.2 billion).[15] In August 2018, Wharf T&T was sold to Hong Kong's telecom operator HKBN for HK$10.5 billion ($1.34 billion).[16]

In February 2019, MBKP acquired Godiva Chocolatier's Asian-Pacific operations for $1.5 billion.[17]

References
  1. "MBK pays US$1 billion for five maritime theme parks from Haichang". South China Morning Post. 24 December 2021.
  2. "The continued rise of South Korean private equity" (PDF). McKinsey & Company. July 2018.{{cite web}}: CS1 maint: url-status (link)
  3. Shin; Chung, Kim-Joon Hyug; Song, Chang-Hyun; Lee, Tong-Gun; Shin, Dong Il; Myong-HyonRyu; Kun, Tong. "Private equity investing in South Korea | Lexology". www.lexology.com. Retrieved 2021-01-15.
  4. "MBK Partners Investor Profile: Portfolio & Exits | PitchBook". pitchbook.com. Retrieved 2021-06-18.
  5. "Michael Kim". Forbes. Retrieved 2021-12-24.
  6. Chan, Cathy (January 12, 2022). "Billionaire Michael Kim's Private Equity Firm Sells Stake to Dyal Capital". www.bloomberg.com. Retrieved 2022-01-12.{{cite web}}: CS1 maint: url-status (link)
  7. Flanner, Russell (December 23, 2021). "MBK Wraps Up China Theme Park Purchases Worth $950 Million". Forbes. MBK is one of Asia’s largest private equity businesses with $25 billion of assets under management.
  8. "Contact". MBK Partners. Retrieved 15 January 2021.{{cite web}}: CS1 maint: url-status (link)
  9. "Strategy". MBK Partners. Retrieved 15 January 2021.{{cite web}}: CS1 maint: url-status (link)
  10. "MBK Partners | Palico". www.palico.com. Retrieved 2021-01-15.
  11. Edition, The Korea Economic Daily Global. "MBK Partners sees 2nd special situations fund launch in H2". The Korea Economic Daily Global Edition. Retrieved 2021-01-15.
  12. "MBK Takes Over Universal Studios Japan". koreatimes. 2009-05-26. Retrieved 2021-01-15.
  13. Thomas, Joyce Lee, Denny (2013-08-26). "ING's Asia exit plan nears end as MBK agrees to buy South Korea unit". Reuters. Retrieved 2021-01-15.
  14. "Tesco sells South Korea stores for £4bn". BBC News. 2015-09-07. Retrieved 2021-01-15.
  15. "HK tycoon Woo's Wharf agrees to sell telecom unit to TPG, MBK for $1.2 bln". finance.yahoo.com. Retrieved 2021-01-15.
  16. Rai, Kane Wu, Sonam (2018-08-08). "Hong Kong's telecom operator HKBN to buy WTT in $1.34 billion deal". Reuters. Retrieved 2021-01-15.
  17. "Chocolatier Godiva to sell Asian-Pacific operations to MBK Partners". CNBC. 2019-02-20. Retrieved 2021-01-15.
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