The Hong Kong and New York offices of Debevoise & Plimpton LLP have advised VIG Partners (“VIG”) on the formation of VIG Partners Fund III (“Fund III”). The fund has reached final closing, raising $600 million, exceeding the original target of US$500 million with strong support from both existing and new investors.
VIG secured commitments from a globally diversified investor base of investors from Europe, North America and the Asia Pacific. Fund III is composed of leading banks, family offices, insurance companies, fund of funds, and pensions
Fund III will seek to acquire control positions in Korea-headquartered companies with enterprise values ranging from $50 million to $300 million.
VIG Partners is a leading middle market private equity firm that is distinctively focused on expanding and transforming companies located in Korea through the implementation of operating initiatives. VIG was one of the first private equity firms in Korea and has been active in private equity investing since 2005, managing approximately $1.9 billion across all funds.
The Debevoise team advising VIG was led by Hong Kong partner Andrew M. Ostrognai, and included associate Shawn Xiao Yang. Tax advice was provided by New York partner Adele M. Karig and Hong Kong associate Mai T. Shapiro.
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