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Shinhan Financial, KKR raise US$200M for global alternative investment fund

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Shinhan Financial, KKR raise US$200M for global alternative investment fund

Shinhan Financial Group Co. Ltd. and KKR & Co. Inc. raised a US$200 million for a global alternative investment fund specifically made for the South Korean banking group, The Korea Times reported Jan. 9.

Shinhan Financial will take part in the decision-making process for the fund alongside KKR. The investment vehicle will use US$150 million raised by Shinhan Financial's bank, brokerage and life insurer units to invest in a private equity fund, while the remaining US$50 million will be channeled toward real estate and infrastructure investments.

The Korean financial group and the U.S. private equity firm signed a memorandum in September 2018 to focus on a strategic partnership for global alternative investment, the report added.