MBK Partners closes fourth fund

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By Ted Liu

MBK Partners has raised US $1.25 billion (all figure in US dollar) for its fourth fund, MBK Partners Fund IV, from Canadian pension funds including Canada Pension Plan Investment Board (CPPIB), British Columbia Investment Management Corporation (bcIMC), Public Sector Pension Investment Board (PSP Investments).

Osler, Hoskin & Harcourt LLP acted as legal counsel to MBK Partners.

MBK Partners launched fundraising in April with a target of $4 billion, closed the fund with $4.75 billion in total commitments in November 2016.

MBK Partners has previously raised $2.7 billion (Fund III, 2013), $1.5 billion (Fund II, 2009) and $1.56 billion (Fund I, 2005).

MBK Partners has a dedicated geographic focus on North Asia includig Korea, Japan and Greater China (China, Taiwan and Hong Kong), with investment teams in Seoul, Tokyo, Shanghai and Hong Kong.

In 2015, CPPIB and PSP Investments partnered with MBK Partners in one of largest private equity transactions in Asia, buying HomePlus, Tesco plc’s Korean retail business, for $6.1 billion.

photo credit: MBK Partners