Korea Investment Corporation (KIC) announced the expansion of its strategic partnership with Golub Capital with a passive, non-voting minority stake in the U.S. credit investment firm’s management companies.
KIC’s stake represents an economic interest in Golub Capital’s management companies of less than 5%. Additional terms of the investment were not disclosed, but all proceeds from the transaction will remain invested in Golub Capital, officials said.
“We are pleased to expand our relationship with Golub Capital,” said Seoungho Jin, CEO of KIC, which is a sovereign wealth fund with $205 billion in assets. “This investment reflects our confidence in Golub Capital as a preeminent private credit asset manager. As a long-term investor, we believe our strategic partnership with Golub Capital will help us continue to diversify KIC’s alternative asset portfolio and to deliver strong long-term investment performance.”
The $55 billion asset manager is known for its focus on broadly syndicated loan and credit opportunities investment programs. Golub is planning to use the proceeds from KIC to ‘enhance it ability’ to deliver reliable financing solutions to private equity sponsors.
“We are honored by KIC’s confidence in our direct lending franchise,” said David Golub, president of Golub Capital. “KIC is a world-class institutional investor with a distinguished long-term track record. Our strategic partnership with KIC provides Golub Capital with more resources to advance our mission to be the best in sponsor finance. We look forward to a long future of shared success.”
KPMG acted as financial advisor and Greenberg Traurig LLP acted as legal advisor to KIC.
