S Korea’s VIG Partners to buy 83% in parking management firm Hiparking

South Korea-based private equity company VIG Partners has announced its offer to buy an 83 per cent stake in Hiparking Co., a local carpark management firm for KRW 27 billion (about $24 million), according to a report.

VIG Partners, formerly Vogo Investment Group, said, it will purchase the stake by acquiring existing Hiparking shares and an additional KRW 20 billion in new stock. The firm primarily focuses on mid-market buyouts.

Pulse reported that, having closed its second fund, VIG Partners will launch its third vehicle in 2017, which will see the investment firm in search for KRW 600 billion in first three months of the year.

Its second fund was spent on at least six portfolio companies, including BKR, the exclusive operator of the Burger King franchise in South Korea; lens manufacturer Samyang Optics; online comparison service Enuri, undergarment company M Corset; massage chair firm Bodyfriend; and PVC window and sliding door manufacturer Winche.

The private equity firm also claims to have invested over $1.3 billion in capital across 11 portfolio companies in South Korea. It still has shareholding control in nine of those companies.

Hiparking, which used to be listed under South Korea-based parking company Hilno Service Co., was split off from the parent company last month to form its own independent entity.

Aside from VIG Partners, Hiparking had also received offers from corporations located in South Korea and beyond, according to Pulse.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.