이 기사는 2019년 10월 21일 08:00 thebell 에 표출된 기사입니다.

The Carlyle Group names John Kim as a managing director of the Asia Buyout Team. The market pays attention if the firm will alter its stance on Korean assets after filling the position which has been vacant for a year.

According to global alternative asset manager, John Kim will join the firm as a managing director of the Asia Buyout Team effective March 2020. Kim will lead Carlyle's investment activities in Korea. Kim joins from Goldman Sachs, where he served as head of mergers & acquisitions in Asia ex-Japan.

Carlyle was the first major global private equity (PE) firm to establish a presence in Korean market, but in recent years, the firm hasn't been active in the country. According Carlyle, there have been 11 investments in Korea since 2000. Four were Asian Buyout fund investment and remaining seven were investment in the Asia Growth Capital fund. As of June 30, 2019, Carlyle Group has invested more than 1.5 billion dollar in Korean market.

Among the firm's most recent transactions in Korea has been its investment in ADT Caps, Korea's major security services provider. Carlyle bought ADT Caps from U.S.-based Tyco International in 2014 for 1.93 billion dollar, in which the PE firm put 800 billion won. Carlyle sold ADT Caps to SK Telecom in 2018. From this investment, Carlyle pocketed 934.9 billion won, returns of more than 100 percent in three-year period.

Yakjin Trading is the only Korean asset that Carlyle owns as of now. In 2013, Carlyle acquired 100 percent stake in Yakjin Trading from founder Cho Young-tae family and Korea Asset Management Corporation (Kamco) for 204.8 billion won through the Asia Growth Capital fund.

The PE firm has attempted three times to sell Yakjin Trading from 2015 to 2018. However, they all have failed due to the downturn of the original equipment manufacturing (OEM) industry. Prolonged downturn in the industry has put the PE firm in a difficult situation to exit from the company. The market is paying attention if Carlyle can cash out after six years of acquisition once Kim joins the firm early next year.

Carlyle's investment in Korea has been centered around Asia Buyout fund and Asia Growth Capital Fund. The PE firm sees compelling opportunities in the country, driven by restructurings within the corporate sector, multinationals and chaebols looking to divest non-core businesses, and generational changes. The PE firm expects Kim will be a strong addition to the team as it continues to increase investment in Korea.

(By reporter Han Hee-yeon)