이 기사는 2020년 05월 13일 08시00분 thebell에 표출된 기사입니다

U.S.-based private equity firm Stonepeak Infrastructure Partners is drawing keen attention from industry observers with the firm joining the race to acquire South Korea’s waste management companies Korea Environment Technology (Koentec) and Saehan Environment.

Stonepeak is currently conducting due diligence on Koentec and Saehan Environment to participated in the final bid slated to take place at the end of May, sources familiar with the matter said on Monday. The New York-headquartered PE firm has reportedly joined the race to lay the groundwork to enter the South Korean market. Despite its vigorous investing activities abroad, there is little awareness about the firm in Korea. Stonepeak manages over $15 billion of capital for its investors as of June 30, 2018.

Founded in 2011, Stonepeak invests in businesses comprised of hard assets in sectors like energy, power and renewables, transportation, utilities, water and communications. The PE firm’s appearance in the country’s M&A market indicates its intention to invest in a wider range of geographical areas including Korea.

Stonepeak has hired Samsung Securities to handle its first public auction in Korea. The South Korean brokerage firm has reportedly been hired to handle the acquisition process and arrange acquisition financing for Stonepeak. The PE firm is said to be seriously reviewing the deal, conducting under-the-table negotiation with strategic investors to form a consortium since the start of the deal process.

What is notable about Stonepeak’s Korea office is that there are two bankers from Macquarie Group. The office is reportedly led by Managing Director Brad Kim who served as the Head of Macquarie Capital and Vice president who spent career at KDB Infrastructure Investments Asset Management and Macquarie Capital.

Prior to joining Stonepeak in September 2019, Kim was the Head of Macquarie Capital in Korea. While at Macquarie, he worked in Australia, UAE and Hong Kong and led numerous transactions in the infrastructure and energy sectors.

Stonepeak closed its Stonepeak Infrastructure Fund III at $7.2 billion in 2018. Industry observers are paying attention to whether the global infrastructure-focused PE firm will successfully complete its first investment in Korea and continue to seek investment opportunities here.

(By reporter Kim Hye-ran)