Australianfinancial group Macquarie launched a drive to raise a 500-billion-won fund totake over another Korean waste treatment firm. Since 2013, Macquarie hasacquired a string of waste treatment companies, based on its judgment that thewaste treatment industry has a great potential for future growth.
Accordingto industry sources on May 15, Macquarie Capital Korea and Davi Hana Infra Fundformed a consortium to create a fund dedicated for acquisition of wastetreatment companies. IBK Bank will take part in as a major investor.
Giventhat the acquisition price for a waste treatment company ranges between 30 and80 billion won, the fund is large enough to finance acquisitions of up to 7-8companies. The fund will have a long-term maturity of 15 years.
InApril, Macquarie Group took over a 33.63-percent stake in Koentec, a specialistin reclamation and incineration of industrial and household wastes, for 79.5billion won. Three months earlier, Macquarie Capital acquired the managerial controlof a food waste treatment firm Re-Clean.
Private debt recently became one of the most favored asset classes for South Korean asset owners, alongside co-investments in overseas alternatives. In the ASK 2017 Private Debt & Equity Summit on May 17, major South Korean pension funds and mutual&hellip
When Korea Post issued a request for proposals on May 17 for global private debt investment of up to $300 million, the state agency added a new requirement: coming up with a co-investment proposal. “General managers must provide us with&hellip
NH Investment & Securities Co. Ltd. will underwrite $100 million worth of subordinated debts backed by State Street Bank’s headquarters building in Boston, known as State Street Financial Center. After completing the underwriting this month, the South Korean brokerage house&hellip