Corstone has held the closing of the Corstone Growth Strategy M&A Private Equity Fund, a KRW150 billion (USD124.5 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, says “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.”
