Private equity fund (PEF) manager MBK Partners has appointed Choi Yeon-seok, executive director, as a new partner.
On the 22nd, MBK Partners said it carried out a personnel and role realignment at the Seoul office, promoting and appointing executive director Choi Yeon-seok as a new partner.
New partner Choi Yeon-seok, a graduate of the Department of Economics at Seoul National University, completed the Harvard Business School MBA, worked at the New York branch of JPMorgan Securities, and joined MBK Partners in 2008.
After joining MBK Partners, Choi is said to have played a key role in sourcing and investing in numerous buyout (acquisition of management control) transactions, including Coway, DIG Industrial Gas, DN Solutions, Dongjin and Kyungjin Textile, and Nexflex.
An MBK Partners official said, "This personnel move is a strategic step to enhance deal sourcing capabilities and execution in the Seoul office's buyout institutional sector and to pursue sustainable growth."
Choi, the new partner, will take part in MBK Partners' major decision-making processes starting Jan. 1 next year. As a member of the Investment Review Committee, Choi will exercise investment decision-making authority.
Min Byung-seok, partner and chief operating officer (COO) at MBK Partners, will also move from the Special Situations (SS) institutional sector to the buyout institutional sector.
Min, a partner, is regarded as a founding member who has been with MBK Partners since its early days in 2005. On the 2018, Min moved to the SS institutional sector and led initiatives such as building the SS fund.
MBK Partners said, "With Min continuing the investment know-how and organizational continuity of the Seoul office's buyout institutional sector, we expect even greater stability and consistency in future investment activities."