Carey Olsen advises Align Partners Capital Management on formation of latest fund
Carey Olsen Hong Kong has advised on the Cayman Islands legal and regulatory aspects of the formation of Align Partners Korea Fund, Align Partners Korea (Non-US) Feeder Fund and Align Partners Korea (US) Feeder Fund together, ("The Fund”).
The Fund is sub-managed by Seoul-based Align Partners Capital Management, Inc. ("APCM"), an activist fund manager renowned for applying a bottom-up, long term “Private Equity Approach to Korean Public Equity Markets” investment strategy focused on listed Korean equities.
APCM has a proven track record of success in its strategic investment approach, emphasising a localised private equity perspective. The focus includes shareholder activism to leverage the substantial "Korea discount."
The successful launch of The Fund represents a crucial milestone in APCM's ongoing efforts in providing investors interested in partnering with APCM with access to Korea’s rapidly developing corporate governance landscape. The Fund is a successor to the Korean domiciled Align Partners Fund I, a vintage fund launched by APCM in 2021, and has attracted a significant participation from a well-known US value manager as the inaugural anchor investor.
The Carey Olsen team advising APCM on the Cayman Islands legal and regulatory aspects of the establishment, launch, closing and ongoing compliance of The Fund was led by corporate partner Michael Padarin with the assistance of corporate senior associate Steven Khong. The team worked alongside White & Case on international matters and Kim & Chang on Korean law matters.