Korea’s MBK Partners raises $1.8bn for special situations fund

Korean flag and buildingsKorean private fund house MBK Partners has announced the close of its second flagship fund having pulled in $1.8 billion in capital commitments. The fund, MBK Partners SSF II, will invest in an East Asia-focused special situations strategy, whereby the fund managers look for mispriced equities or debts due to sudden spikes in value amid a distressed market. The firm claims that its fund, the second to be based on such a strategy, is the largest special situations investment vehicle managed by an Asia fund since 2019. Its predecessor raised $850 million and MBK stated that it took less than a year to raise the $1.8 billion for the second fund. “The special situations funds are playing a central role in navigating the market uncertainties posed by the COVID-19 pandemic,” Kim Byung-ju, chairman of MBK Partners, said in a statement. “In the next few years, the golden era of special situations investing will dawn.” ©2021 funds global asia

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