NEW YORK, December 8, 2022/SEOUL, December 9, 2022 – The Korea Investment Corporation (“KIC”) and Golub Capital LLC (together with its affiliates, “Golub Capital”) are pleased to announce the expansion of their strategic partnership. In connection with this announcement, KIC has acquired a passive, non-voting minority stake in Golub Capital’s management companies.
Golub Capital plans to use the proceeds from KIC’s investment to further enhance its ability to deliver distinctive, compelling and reliable financing solutions to private equity sponsors. All proceeds from the transaction will remain invested in Golub Capital.
“We are pleased to expand our relationship with Golub Capital,” said Seoungho Jin, CEO of KIC. “This investment reflects our confidence in Golub Capital as a preeminent private credit asset manager. As a long-term investor, we believe our strategic partnership with Golub Capital will help us continue to diversify KIC’s alternative asset portfolio and to deliver strong long-term investment performance.”
“We are honored by KIC’s confidence in our direct lending franchise,” said David Golub, President of Golub Capital. “KIC is a world-class institutional investor with a distinguished long-term track record. Our strategic partnership with KIC provides Golub Capital with more resources to advance our mission to be the best in sponsor finance. We look forward to a long future of shared success.”
Golub Capital’s strategy, management team and day-to-day operations will not change as a result of KIC’s investment. KIC’s stake represents an economic interest in Golub Capital’s management companies of less than 5%. Additional terms of the investment were not disclosed. Evercore served as financial advisor and Kirkland & Ellis LLP served as legal counsel to Golub Capital on the transaction. KPMG acted as financial advisor and Greenberg Traurig LLP acted as legal advisor to KIC.
About Golub Capital
Golub Capital is a market-leading, award-winning direct lender and experienced credit asset manager. We specialize in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. Our sponsor finance expertise also forms the foundation of our Broadly Syndicated Loan and Credit Opportunities investment programs. We nurture long-term, win-win partnerships that inspire repeat business from private equity sponsors and investors.
As of October 1, 2022, Golub Capital had over 725 employees and over $55 billion of capital under management, a gross measure of invested capital including leverage. The firm has lending offices in Chicago, New York, San Francisco and London. For more information, please visit golubcapital.com.
About Korea Investment Corporation
The Korea Investment Corporation (KIC) is the sovereign wealth fund of the Republic of Korea. We manage public funds entrusted by the Korean government, Bank of Korea and other public funds, investing across diverse asset classes. Our goal is to increase sovereign wealth and help develop the domestic finance industry. Learn more at www.kic.kr/en/.