Coller Capital and Hahn & Co have led a US$1.5 billion investment into Korean cement maker Ssangyong C&E in what they say is the largest general partner-led transaction in Asia. Ssangyong is actively expanding into the waste management business.
Coller Capital and its co-investors led the transaction alongside another leading global secondary player, while Hahn & Co, deploying funds into the company for the third time, is committing a significant amount of capital. The mix of investors in the continuation vehicle formed for this GP-led transaction is intended to help ensure strong alignment among all of the counterparties.
Ssangyong is one of Hahn & Co’s most successful investments to date, and the deal demonstrates its continuing long-term relationship with the company.
In investing in Sanggyong, Hahn & Co aims to strengthen the company’s leading position through market consolidation, divest the company’s non-core assets to improve operational efficiency, and strategically transform the company into Korea’s leading waste management group.
“We are excited to co-lead this transaction, partnering with a blue-chip firm such as Hahn & Co and to be investing in one of Hahn & Co’s trophy assets,” says Peter Kim, partner and head of Asia at Coller Capital. “Our first-hand expertise in Korea, together with our strong relationship with Hahn & Co, has enabled us to undertake extensive due diligence and execute this large, complex transaction. We look forward to utilizing our expertise further to develop the private capital secondary market in Korea.”
Scott Sang-Won Hahn, chief executive officer of Hahn & Co., adds: “This partnership with Coller Capital and a leading global secondary player represents an important milestone in Korea private equity and is evidence of how private equity firms can be successful, long-term owners of businesses with the ability to transform companies and industries.”
Coller Capital is one of the world's leading investors in the secondary market for private assets. It provides liquidity solutions to private markets investors worldwide, acquiring interests in private equity, private credit, and other private markets assets. Headquartered in London, the firm has offices in New York and Hong Kong. Hahn & Co is said to be the largest and most active private equity firm in Korea with US$10.5 billion in assets under management.