SAIF Leaving South Korea

Most private equity firms are expanding in Asia, but peHUB has found at least one that’s contracting.

SAIF Partners plans to end its new investment activities in South Korea, with Seoul-based partner Don Han expected to leave by year-end. The firm’s other Seoul-based investment professional – vice president JooDong Yu – will stay aboard to manage the existing portfolio.

Han did not respond to requests for comment on the news, which peHUB confirmed with two SAIF limited partners.

The firm has ten Korean portfolio companies, with Han serving as a director with half of them. They are: Bellwave Co., Contela Inc., Dragonfly GF CO., MC Tech, Neo Technical System Co., Ness Display Co., PnP Network Technologies, PointChips Co., Unipoint Corp. and WiderThan.

SAIF was previously known as Softbank Asia Infrastructure Fund, and earlier this year closed its third fund with $1.1 billion in capital commitments. It will continue to maintain four offices in China (Beijing, Hong Kong, Shanghai, Tianjin) and two in India (Hyderabad, New Delhi).