KIB PE Acquires 5.03% Stake in Zaigle... Shareholder Activism Intensifies

[Asia Economy Reporter Jang Hyowon] KIB Private Equity (KIB PE) announced on the 1st that it acquired a 5.03% stake in Zaigle. Starting with this equity acquisition, it plans to actively pursue a shareholder activism fund.

KIB PE is a newly established hedge fund led by Choi Suhyun, Head of ESG (Environment, Social, Governance) Operations. Head Choi has a track record of managing approximately 14 trillion KRW in assets, having served as the head of operations teams at Hyundai Securities and Daishin Securities. The managed funds included those from the Ministry of Land, Infrastructure and Transport, lottery funds, the Ministry of Labor, and livestock development funds.

A company official stated, "Like the management philosophy of activist investor Carl Icahn, we will demand shareholder returns and business restructuring from listed companies," adding, "We will strive to ensure that promising companies are evaluated at their appropriate value in the market."

He continued, "JD Holdings, a major shareholder of KIB PE, is the second-largest shareholder of the KOSDAQ company Mason Capital and has sufficient financial capacity," and added, "We are also considering expanding Mason Capital’s stake through KIB PE in the future."