This article was displayed on the ChosunBiz MoneyMove (MM) site at 2:31 p.m. on Dec. 4, 2025.
Global private equity fund (PEF) manager Bain Capital has moved to reorganize its Korea office. As Chief of the Korea office Lee Jeong-woo decided to leave the company this year, there was speculation it would bring in a replacement for him, but a hire at the representative level appears unlikely.
According to the investment banking (IB) industry on the 4th, Bain Capital recently hired Executive Director Ahn Jae-woo, formerly of CVC Capital. He studied economics at Harvard University and started out as an analyst at Blackstone in 2012. He joined CVC Capital in 2015, moved to TA Associates and worked for about a year, then returned to CVC Capital in 2021.
In addition to Ahn, who is at the managing director (MD) level, Bain Capital also hired one junior staff member. Given that it hired staff not at the representative level, there is an outlook that the next country head will come from inside.
The leading candidate for the next representative is Vice President Kim Dong-uk. Joining Bain Capital in 2020, Kim graduated from Seoul National University's School of Electrical Engineering and Columbia Business School (MBA). After stints at IBM and Bain & Company, Kim handled mergers and acquisitions (M&A) advisory and initial public offering (IPO) execution at Citigroup Global Markets Securities.
Since joining Bain Capital, Kim has solidified standing by leading the investment in CLASSYS. The aesthetic medical device company CLASSYS has seen its share price rise on the back of explosive growth since Bain Capital's acquisition in 2021. It has recently accelerated growth by launching even at-home aesthetic medical devices.
Lee, who is leaving Bain Capital, is expected to set up a new PEF manager in Korea early next year. It is said Lee will focus on the mid-cap market, which is relatively smaller than the deal sizes he handled at Bain Capital.
An IB industry source said, "Lee has long been known as someone with a strong desire to set up his own house," adding, "I understand Lee recently notified the company that he is leaving Bain Capital to take on a new challenge."