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Financials

MBK Partners hires former Deutsche Bank veteran for new fund

HONG KONG, Sept 25 (Reuters) - MBK Partners on Monday said it has hired Stephen Le as a partner for its new special situations fund that will invest in equity and credit, as the private equity firm looks to step up investments in North Asia.

Le will co-head the new special situations fund with MBK founding partner Jay Bu, the North Asian private equity fund said in an e-mailed statement.

Prior to this, Le was co-head of Credit And Special Situations, Asia-Pacific at Deutsche Bank for 15 years.

MBK has been involved in some of the largest buyouts in Asia in the past years, including the $6.1-billion purchase of Tesco PLC’s South Korean unit in 2015 and the $1.2-billion takeover of Wharf Holdings Ltd telecom business in 2016 with TPG Capital Management.

Reporting by Elzio Barreto

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