Credian to invest in MagnaChip’s foundry business The PE firm’s fund will cover half of the acquisition cost with KFCC as its anchor investor
Translated by Ryu Ho-joung 공개 2020-03-19 08:00:51
이 기사는 2020년 03월 19일 08:00 thebell 에 표출된 기사입니다.
Credian Partners is drawing attention from market players as the Seoul-based firm is said to participate in buying MagnaChip Semiconductor’s foundry business in a deal led by SK Hynix.Credian Partners, together with Alchemist Capital Partners, plans to invest in a special purpose entity incorporated to acquire MagnaChip’s foundry business for about 400 billion won, sources familiar with the matter said on Monday. Each firm will cover about 50 percent of the total acquisition cost.
The two firms are working on raising capital for their funds solely for the planned acquisition. Korean Federation of Community Credit Cooperatives (KFCC) will likely be an anchor investor in Credian’s new fund, while SK Hynix is to invest in Alchemist’s fund as a limited partner.
Credian Partners is a relatively young PE firm founded in August 2014. It has so far made four investments, most of which were foreign subsidiaries of domestic companies.
In 2015, the firm raised a 76 billion won fund to invest in Green Cross Bio Therapeutics (GCBT), a Canadian subsidiary of South Korean pharmaceutical company Green Cross, in partnership with Stonebridge Capital. In the following year, the firm’s second fund worth 13.5 billion won invested in a U.S. subsidiary of life science company Macrogen.
In 2017, Credian Partners, together with Korea Investment Partners, invested in Wise UX Global, which is a company known for its chicken breast food brand Imdak. Credian received 23.4 billion won of commitments for its third fund dedicated to this investment. In its latest deal, the firm reportedly invested in H&Iruja, a manufacturer of OLED production equipment.
The firm is led by two Cornell MBA graduates, Kim Yeon-kyu and Woo Sung-yoon.
Kim spent early years of his career at Accenture and Samjong KPMG, and built his investment career at ABN Amro, Stonebridge Capital and HSBC after finishing the MBA program. Woo studied law at Yonsei University and enrolled in the MBA program, after which he worked at Mirae Asset Global Investments PE.
(By reporter Han Hee-yeon)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- 경남제약 품는 휴마시스, 유통네트워크·진단키트 '시너지'
- [Company Watch]글로벌텍스프리, 프랑스 자회사 '적자 전환'
- [Red & Blue]'주목도 높아지는 폐배터리' 새빗켐, 침묵 깨고 반등
- [HLB '리보세라닙' 미국 진출기]시장 우려 불식 나선 진양곤, 갑자기 마련된 기자회견
- 효성화학 특수가스 사업부, '경영권 지분 매각'으로 선회
- 한양, 만기도래 회사채 '사모채'로 차환한다
- 동인기연, 'GS 출신' 30년 베테랑 전호철 상무 영입 '성장 방점'
- 에스트래픽, 적자 '일시적 현상'... 2분기 수익개선 기대
- [Company Watch]'자회사 회생신청' 투비소프트, 성과 없는 신사업
- '크라우드 펀딩' 와디즈, '테슬라 요건' 상장 추진