This article was displayed on the ChosunBiz MoneyMove (MM) site at 5:45 p.m. on Dec. 18, 2025.
Hanwha Life is negotiating to acquire a minority equity stake in the domestic private equity fund (PEF) manager Centroid Investment Partners (hereinafter Centroid). It is said there is a strong chance the payment for the acquisition will be completed as early as within the year.
According to the investment banking (IB) industry on the 18th, Hanwha Life is in talks to acquire an equity stake in the low-20% range in Centroid. The discussions began about two years ago, saw little progress for a while, and recently picked up in earnest again.
Centroid is a homegrown private equity fund founded by Chief Executive Jeong Jin-hyeok. Jeong currently holds 100% equity. A person surnamed Shin, who had jointly held some equity since the early startup days, exited this year, leaving Jeong with the entire stake.
Hanwha Life is said to be planning to invest in Centroid through a third-party paid-in capital increase. The expected equity ratio under discussion is said to be just over 20%. However, there is also an outlook that the voting-rights-based equity ratio is around 10%.
Hanwha's institutional sector in finance has reportedly been in contact with several domestic private equity managers for a few years, discussing options to acquire minority stakes. Hanwha Life and Hanwha Asset Management have led the effort.
However, most private equity funds have structures in which several partners jointly hold equity. As a result, they judged it was not easy to acquire a minority stake, and their needs reportedly aligned with Centroid, which has a single shareholder.
Another reason Hanwha Life decided to invest in Centroid is said to be Centroid's global investment track record. Centroid acquired TaylorMade, one of the world's three largest golf brands, in 2021 and is now seeking to sell its management control. Recently, it also sold equity in U.S. premium golf club operator Concert Golf Partners to global PE Bain Capital, generating more than double in profit.
An IB industry official said, "Hanwha Life has been so keen on global investments that it acquired U.S. securities firm Velocity and Indonesia's Nobu Bank," adding, "The attempt to acquire equity in Centroid, which has focused on overseas investments, would be in the same vein."
If Hanwha Life secures a minority equity stake in Centroid this time, it is widely expected to have a high likelihood of joining future blind funds as a limited partner (LP).