[Alpha Biz= Reporter Kim Sangjin] KKR, a global private equity firm, is acquiring a minority stake in PF Life through its private credit strategy. On the 8th, the private equity firm VIG Partners announced that KKR had acquired a portion of PF Life's shares as part of its private credit strategy. PF Life has been recognized with a corporate value exceeding 1 trillion won.
KKR's stake in PF Life is reported to be 20%. VIG Partners currently holds approximately 80% of PF Life through its 3rd and 4th funds.
Starting with the acquisition of Good Life in 2016, VIG subsequently acquired additional insurance companies. In 2020, they acquired PF Life, which was the industry leader at the time, and merged it with Good Life in early 2021.
In June last year, VIG concluded a 360 billion won capital restructuring arranged by Woori Bank. Following this transaction, VIG plans to retain management control of PF Life and aims to sell it in the future.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
