H. Private Equity (PE) is expected to become the second-largest shareholder of Mastern Investment Management, a domestic alternative investment specialist asset management company.
According to the investment banking (IB) industry on the 18th, H. PE has been conducting due diligence on Mastern Investment Management since this week. This follows a deal to invest 70 billion won to acquire approximately 25-30% of Mastern Investment Management's equity. H. PE and Mastern Investment Management are currently discussing specific details.
H. PE is expected to gain joint management rights, including the right to appoint the CEO of Mastern Investment Management through this investment. As of the end of last year, the largest shareholder of Mastern Investment Management was advisor Kim Dae-hyung and related parties (37.17% equity).
Earlier, Mastern Investment Management received a formal warning from the Financial Supervisory Service last month regarding the controversy over the largest shareholder's pursuit of private interests in 2023. Last year, it recorded sales of 110.5 billion won and an operating profit of 13.2 billion won.
H. PE is a private equity fund management company established by CEO Han Soo-jae, who led Medici Investment's PE sector, in 2022. The firm has previously invested in various industries, including DIO, a manufacturer of implants, LOTTE Global Logistics, a logistics subsidiary of the LOTTE Group, and Polaris Shipping.