이 기사는 2021년 04월 28일 07시35분 thebell에 표출된 기사입니다

E&F Private Equity (E&F PE), a mid-sized South Korean PE firm, has hired a new risk management officer (CRO) to enhance its internal risk and asset management capabilities.

E&F PE recently hired Yoon Jong-young, former head of Meritz Securities’ audit division, as its new CRO. Yoon has 15 years of experience in finance and audit. He was in charge of introducing a company-wide internal control system to prevent financial accidents as head of the audit division.

After that, Yoon joined Cenotec, a portfolio company of E&F PE, as a chief financial officer. E&F PE believed Yoon is the right person for its new CRO as he has risk management capabilities and a good understanding of its portfolio company. The PE firm is expected to further strengthen its internal risk management and increase the value of its invested companies through the latest hiring amid rapid growth.

Founded in 2014, E&F PE has focused on buy-out deals for environment and construction materials companies. It has assets under management of 990 billion won ($890 million), investing in 22 companies. Its average internal rate of return stands at 17.2%.

The PE firm was especially active in making investments last year, adding five portfolio companies including Inus, Iconix, Koentec and Saehan Environment, Kolon Environment & Energy, and Samduk. It invested 502 billion won and 217 billion won in Koentec and Saehan Environment and Inus, respectively.

E&F PE plans to raise 500 billion won for its second blind-pool fund this year. It was awarded New Deal mandate by Korea Development Bank (KDB) and Korea Growth Investment Corp (K-Growth) earlier this year.

The PE firm plans to complete the fundraising in the second half and start making investments. E&F PE scouted managers from Mirae Asset Securities and Deloitte Anijn for the fund which will invest 70% in the environment and construction materials industry and 30% in the new sector. (Reporting by Se-hun Jo)