Michael Kim (businessman)

Michael ByungJu Kim
Born Seoul, South Korea
Education Haverford College
MBA, Harvard Business School
Occupation Founder, MBK Partners
Net worth US$1 billion (January 2018)[1]
Spouse(s) Park Kyung-ah
Korean name
Hangul 김병주
Hanja 金秉奏[2]
Revised Romanization Gim Byeongju
McCune–Reischauer Kim Pyŏngju

Michael ByungJu Kim is a South Korean billionaire businessman.[1][3][4] He is the cofounder and partner of MBK Partners, a private equity firm headquartered in Seoul, South Korea. He is known as the "Godfather of Asian private equity".[5]

Biography

Early life and career

Kim received an MBA from the Harvard Business School in 1990 and received a Fulbright Scholarship afterwards.[6]

Kim begin his career as an mergers and acquisitions banker at Goldman Sachs after graduating from Harvard. In 1995, he joined Salomon Smith Barney, where he became Managing Director and COO of Asia-Pacific Investment Banking. He later joined the Carlyle Group as a president of Carlyle Asia until 2005.[4]

Kim left Carlyle to found MBK Partners in 2005, which has since grown to over $14.6 billion in assets under management,[1] raising $4.1 billion in the last fund becoming the largest independent private equity fund in Asia.[7]

Kim has been notable for breaking several records in the South Korean market. His takeover of ING Korea and listing on the market, was the first time a private-equity owned company listed on exchanges in South Korea.[8] His takeover of Tesco subsidiary Homeplus was the largest private equity deal in South Korea's history.

Kim is or has been on the boards of Haverford College, KorAm Bank, China Network Systems, Yayoi, C&M, Tasaki, Universal Studios Japan, Coway, ING Life Korea, Homeplus, and the Metropolitan Museum.[9] Kim is listed as one of 73 trustees of the Carnegie Hall Corporation.[10]

In 2015 Kim was ranked #42 on Bloomberg's 50 Most Influential.[11]

Philanthropy

In 2010, Kim pledged $7.5 million toward the construction of a new dormitory at Haverford College.[12]

Personal life

Kim is married to Park Kyung-ah, the daughter of the late South Korean Prime Minister Park Tae-joon under President Park Chung-hee. Park also founded POSCO, the largest steel company in South Korea.

References

  1. 1 2 3 "Michael Kim".
  2. ↑ "美금융업체 칼라일그룹 한국에 10억弗투자 추진". Munhwa Ilbo. 29 May 1999. Retrieved 17 September 2018.
  3. ↑ "#165 Daniel D'Aniello - Forbes.com". www.forbes.com.
  4. 1 2 "Korea's Michael Kim Leads Buyout Surge as Foreign Firms Return". Bloomberg.com.
  5. ↑ Limited, Haymarket Media. "Michael Kim: Godfather of Asian private equity".
  6. ↑ "MBK PARTNERS". 10 July 2015.
  7. ↑ "South Korea's MBK Partners raises $4.1b for its fourth fund". www.dealstreetasia.com.
  8. ↑ "UPDATE 1-ING Life Insurance Korea raises $974 mln after pricing IPO..." 24 April 2017 – via Reuters.
  9. ↑ "Michael ByungJu Kim Elected Metropolitan Museum Trustee - The Metropolitan Museum of Art". www.metmuseum.org.
  10. ↑ "Board of Trustees". www.carnegiehall.org.
  11. ↑ "50 Most Influential - #42". www.bloomberg.com.
  12. ↑ "Haverford To Build Another New Dorm".
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