Corstone said Thursday it closed eleventh fund at 150 billion KRW (US$124.5 Million). Investors of Corstone Growth Strategy M&A Private Equity Fund include the Growth Ladder Fund managed by the Korea Development Bank; the Korean Teacher’s Pension Fund; and Corstone Capital. The fund will make M&A and growth equity investments in small to mid-sized companies domiciled in South Korea.
WASHINGTON & SEOUL, South Korea–(BUSINESS WIRE)–Corstone announced the closing of the Corstone Growth Strategy M&A Private Equity Fund (“Fund”). The Fund is a 150 Billion KRW (US$124.5 Million) fund managed primarily by Corstone Asia’s investment team located in Seoul, Korea. The Fund’s mandate is to target M&A and growth equity investments in small to mid-sized companies domiciled in South Korea. Target companies may also be located outside of Korea, with the capability to support acquiring companies in the US. The Fund will seek companies in Corstone’s historically targeted industries. The Fund also has sidecar or parallel fund features to provide for increased investment.
The Fund’s cornerstone investors include the Growth Ladder Fund managed by the Korea Development Bank, the Korean Teacher’s Pension Fund, and Corstone Capital.
Albert (Bud) Hawk, Chairman of Corstone, remarked “We are very pleased to have been selected through a highly competitive bidding process to be awarded the investment by the Growth Ladder Fund and the Teacher’s Pension. The Fund mandate leverages our international capabilities with our core success in Korea. We are actively building our pipeline and looking for target companies.”
Corstone Capital is a global diversified asset management and strategic advisory firm that has been an active investor in Korea since 1994. Corstone Asia is one of the fastest growing private equity managers in Korea. The Fund is the 11thfund organized and managed by Corstone Asia.