Woori PE plans to launch $280 mn Southeast Asia-focused PDF
May 03, 2018 (Gmt+09:00)
Woori Private Equity Asset Management Co. Ltd. (Woori PE) plans to raise 300 billion won ($280 million) in a global private debt fund jointly with a Hong Kong securities firm, targeting companies in Southeast Asia, including Thailand, Cambodia, Vietnam and Indonesia.
The unit of South Korea’s Woori Financial Group has recently signed a preliminary agreement with the unidentified securities company in Hong Kong to launch the fund, according to a Woori PE source last week.
Woori Bank, the flagship company of the financial holding group, is considering participating as an anchor investor in the fund which targets 9-10% annual returns.
Woori PE expects to use global networks of the Hong Kong securities house, which it just described as a big company, to attract investors.
The fundraising comes just after Kyungwoo Kim, a former managing director of Nomura Securities’ debt capital market team, was installed as chief executive officer of Woori PE in March.
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