MBK Partners has raised $4.1 billion for its fourth flagship buyout fund, according to Pulse, one of the largest Asia-focused vehicles ever gathered. The news continues a consistently upward fundraising trend for the firm, marking a hefty increase over the $2.7 billion MBK Partners Fund III, which closed in 2013 and was itself a major upgrade from MBK Partners Fund II, which raised about $1.5 billion in 2009. The North Asian investor has offices in Hong Kong, Seoul, Shanghai and Tokyo.
Despite those giant pools of capital, the firm—launched in 2005 by former Carlyle Group executive Michael Kim—has had a relatively quiet year since leading the roughly $6 billion purchase of Korean supermarket chain Homeplus last October. MBK’s most notable activity in 2016 has been an ongoing flirtation with Accordia Golf (TKO: 2131). After originally offering to buy the golf course operator for about $1.5 billion, MBK revoked its bid amid an increase in Accordia’s stock price, only to re-enter the picture with a downsized $760 million offer last month.
PitchBook users can see MBK's fund performance here.