이 기사는 2020년 02월 11일 08:00 thebell 에 표출된 기사입니다.

South Korea’s private equity (PE) firm Q Capital Partners has restructured its organization in a bid to enhance its portfolio management capability.

One month after recruiting Choi Myung-rok as its chief investment officer (CIO), Q Capital has created its fourth investment department in addition to existing three to strengthen its investment and management capability, according to investment banking (IB) industry sources on February 5. Along with the structural changes, the PE firm made a few changes in personnel. The firm’s executive director Yoon Dong-hyun will continue to lead the investment department 1 while newly- joined CIO Choi will concurrently serve as the head of the department 2. Choi Yong-lim has been promoted to director of the department 2.

In the department 3, Lee Chang-min has been promoted to managing director. Lee has been in charge of the investment in Curokyunggi CC and the value-enhancing post-acquisition. Curokyunggi CC had suffered heavy losses, before it turned to net profit one year after the Q Capital’s acquisition.

Newly-formed department 4 will handle investment in venture capital. Managing director Lee Hee-seok will lead the department while the future strategy has not been decided yet. With the department spent all money committed to its exiting fund, it may enter the private equity business. Considering secondary markets are growing in size, the department may take charge of secondary market or mezzanine investments.

The PE firm has made the latest alteration to its organization to enhance each department’s professionalism as its investment portfolio gets bigger and its blind-pool funds grows to hundreds of billions of won.

Q Capital currently manages blind-pool funds including Korea Development Bank (KDB) and Korea Growth Investment Corp. (K-Growth)’s fund established to support startups (300 billion won) and K-Growth’s Corporate Restructure Fund, which was established to change the frame of corporate restructuring (155.5 billion won). The department 1 is expected to manage the former while department 2 and 3 are likely to manage the latter. The latest restructuring is expected to enable the PE firm to focus more on deal-sourcing and managing investment companies.

Q Capital has Youngpoong Paper and Curokyunggi CC as its portfolio companies. Both companies are showing improvement in performance since the PE firm’s takeover. Last year, the PE firm invested in lumber company K-One, K-One Forestry, and K-One Timber through the fund for startups. The PE firm also invested in Start Collabo via Corporate Restructure Fund.

Q Capital scouted Choi Myoung-rok, who was responsible for mergers and acquisitions at KTB PE, Mirae Asset Securities and KB Securities, as its CIO last month. Under the new structure, Q Capital chief executive officer Hwang Hei-youn and Choi will direct the overall investments and four departments will be placed under the umbrella. The PE firm is actively hunting for talents to enhance its investment department.

(By reporter Kim Hye-ran)