Senior Director Ahn Ho-sung joins this month
Attention is focusing on whether to expand alternative investment in Korea
[This article was reported on Raider M, a paid media outlet specializing in the capital market in Mail Business, on April 30 (14:37)]
Goldman Sachs PIA (private investment division) is recruiting mid-sized investment professionals from Premier Partners, signaling an expansion of domestic investment.
According to the investment bank (IB) industry on the 30th, Goldman Sachs PIA recently hired Ahn Ho-sung, director of Premier Partners, as its senior headquarters.
Before joining Goldman Sachs, Ahn graduated from Seoul National University with a business administration major and an MBA from the University of Michigan in the U.S. and worked at Doosan Energy, Boston Consulting Group, and Premier Partners.
Premier Partners has created its sixth blind fund (fund with no fixed investment destination) worth more than 1 trillion won, and is also prominent in the private equity fund (PEF) industry beyond venture capital (VC).
Chief Ahn is said to have been active in investing in Mega Coffee while serving as Premier Partners. It is expected to start working last week and lead alternative investments in Korea with Goldman Sachs PIA CEO Lee Seung-joon.
Goldman Sachs PIA is in charge of private equity investments using Goldman Sachs’ own funds. In August last year, it sold a 20.6% stake, the No. 1 B2B (business-to-business) food material, to NowIB Capital for 86 billion won.
In addition, Goldman Sachs PIA participated as a joint investor (LP) when Bain Capital took over the management rights of Hugel in 2017 and then recovered the investment together when it sold its stake to a consortium of GS Group and CBC Group in 2022.
This is considered a major exit case created by Bain Capital and Goldman Sachs in cooperation following Carver Korea (AHC) investment in the past. In addition, Kyobo Life Insurance participated as a major shareholder Now, it is said that the investment has been recovered.
An official from the IB industry said, “Goldman Sachs is expected to make more active alternative investments in Korea with this recruitment of talent.”