This article was published on Nov. 7, 2025, at 12:05 p.m. on the ChosunBiz MoneyMove site.
Domestic private equity firm JC Partners is pushing ahead with the sale of insurance agency Goodrich, and Daily Partners has been confirmed to be working on a plan to jointly hold management rights. JC Partners and Daily Partners will form a continuation fund (creating a new fund to transfer assets when the existing fund reaches maturity) to co-manage it, and the fund will take over JC Partners' management-equity stake and run the business.
On the 7th, sources in the investment banking industry said Daily Partners is arranging financing for the continuation fund intended to acquire Goodrich.
The newly formed Goodrich continuation fund will be jointly managed by JC Partners and Daily Partners as co-general partners (Co-GP). Daily Partners plans to raise limited partners (LPs) by leveraging its network in the insurance industry and Goodrich's improving performance. JC Partners will also separately seek to raise LPs.
The continuation fund will acquire about 88% of Goodrich equity held by JC Partners, Goodrich CEO Han Seung-pyo, and director Han Seung-yeop. The total corporate value was reported to be in the mid-500 billion won range.
Daily Partners is a firm specializing in bio, finance and governance with assets under management (AUM) of about 600 billion won. The finance sector is led by CEO Shin Seung-hyun. Certified public accountant Shin holds Korea and U.S. actuarial qualifications. After working as a financial analyst, he founded Daily Financial Group, led the acquisition team for KDB Life Insurance and served as CEO of MG Non-Life Insurance. Daily Partners pursued multiple financial company acquisitions last year, including MG Non-Life Insurance.
Earlier, JC Partners in 2022 valued the company at 200 billion won and secured about 60% equity by buying existing shares for 185 billion won and investing 100 billion won in a paid-in capital increase. The remaining equity is split between CEO Han Seung-pyo and director Han Seung-yeop.
After JC Partners' acquisition, Goodrich's performance improved significantly. At the time of the acquisition in 2022, the company's sales were 321.3 billion won and operating loss was 2.3 billion won, but the following year sales reached 393 billion won and operating profit was 12.8 billion won. Last year, sales rose to 548.9 billion won and operating profit to 36 billion won.
If the deal goes through, JC Partners could realize gains from another portfolio company sale following Air Premia. Based on a corporate value of 550 billion won, JC Partners' gross internal rate of return (Gross IRR) would be about 18% and gross multiple on invested capital (Gross MOIC) about 1.9 times.
A JC Partners official said, "We are reviewing various options based on forming a continuation fund, but nothing has been decided yet."