Maples Group Advises on US$822 Million Fund Formation by South Korean Private Equity Firm

Maples and Calder, the Maples Group’s law firm, with support from Maples Fiduciary Services Limited, is pleased to have advised UCK Partners, Inc. (formerly Unison Capital Korea, Inc.) (“UCK”), a South Korean private equity firm, on the formation of UCK’s third buyout fund, UCK Partners III, which has capital commitments of around KRW1.1 trillion (US$822 million), including approximately KRW250 billion (US$186 million) from international investors. The fundraise exceeded its initial target of KRW900 billion (US$ 720 million).

Established in 2012, UCK is a Seoul-headquartered private equity firm, focused on middle-market control buyout investments in Korea, investing in 17 platform investments.

A team from the Funds & Investment Management practice group based in Maples and Calder’s Hong Kong office, led by Partner, Sharon Yap with assistance from Of Counsel, Dan Won acted as Cayman Islands counsel to UCK.

Commenting on the transaction, Sharon said, “We are absolutely delighted to have had the opportunity to support UCK on this significant transaction, not only from a Cayman Islands legal perspective but also from a fiduciary services angle.  This exemplifies the benefits of our ‘one-stop-shop’ solution that Maples Group offer our clients.”

The team also advised UCK on the formation of a co-investment vehicle that invested alongside UCK’s flagship buyout fund to acquire Osstem Implant last year.

The Maples Group has one of the largest Offshore Funds & Investment Management team in the Asia Pacific region with specialist lawyers based in both Hong Kong and Singapore providing on the ground support to investment managers in the region. The team has advised some of the most successful managers in Asia on not only multi-billion dollar fund launches, but also high-profile portfolio investments and divestments, secondaries deals and top-tier restructurings.