MBK Attracts Approximately 7 Trillion Won in Second Closing of 6th Fund

Approximately KRW 7 trillion (USD 5 billion) has been raised so far for MBK Partners' 6th buyout fund. With over 70% of the initial target amount of USD 7 billion secured within about a year since fundraising began in earnest, the remaining fundraising is expected to continue smoothly.

On the 19th, MBK Partners announced the results of the 2nd closing of the 6th buyout fund at the 'Annual Investor Conference' held in Tokyo, Japan the previous day. MBK Partners Chairman Kim Byung-joo, who spoke directly, stated, “Approximately KRW 7 trillion (USD 5 billion) has been closed and committed so far,” and added, “We are aiming for the 3rd closing in the first quarter of 2025.”

The 2nd closing saw investments from global LPs primarily from domestic sources as well as North America and the Middle East. Strong trust from existing LPs was also confirmed.

More than 85% of the major global LPs who have invested in MBK Partners previously have re-invested (re-up) in the 6th fund. While public pensions and sovereign wealth funds remain the core LPs, the composition of investors has diversified with family offices and other LPs also participating in the 6th fund.

The approximately KRW 7 trillion raised at the 2nd closing is known to be the largest amount raised among Asian buyout funds this year. Among Asian buyout funds that completed fundraising this year, the largest is the Asia 6th fund of European private equity firm CVC Capital Partners at USD 6.8 billion, followed by the Asia 8th fund of American PE firm TPG at USD 5.3 billion.

An MBK Partners official explained, “This year, MBK Partners' investment activities have been active mainly in Korea and Japan, including the acquisition of Arinamin Pharmaceutical and the exit from Tasaki in Japan, as well as the acquisition of GeoYoung in Korea,” adding, “LPs are continuing to show interest by looking at MBK Partners' comprehensive profile as a fund manager, including not only the track record but also a clear investment philosophy, the capabilities of the management team, and the time spent working closely together.”