Kyobo Life Insurance acquires 100% of Pavilion Asset Management (now Kyobo AIM Asset Management)
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- —
- Stake
- 100%
- Implied 100%
- —
- Revenue
- —
- Op. income
- —
- Multiples
- —
- Target
- Pavilion Asset Management (now Kyobo AIM Asset Management) · Asset management
- Buyer
- Kyobo Life Insurance · SI
- Seller
- Existing shareholders
- Structure
- —
- Announced
- Apr 4, 2023
- Closed
- Apr 4, 2023
- Stage
- Closed
Target
Pavilion Asset Management, founded in 2009, is an asset manager spanning traditional strategies such as buyout investing and alternatives including real estate and ESG, with reported expertise across real estate development, loan funds and financial advisory. It was renamed Kyobo AIM Asset Management after the acquisition.
Deal rationale
A Kyobo Life official said the acquisition would be a starting point for expanding financial-investment businesses and improving the group's earnings structure to secure sustainable growth. Economic Review reported the deal was part of the group's plan to establish a financial holding company targeted for the second half of 2024. The SPA was signed in December 2022, FSC approval of the major shareholder change came in March 2023, and payment for the 100% stake was completed on 2023-04-04.
Press coverage
- 경향신문 (2023-04-04): “교보생명, 파빌리온자산운용 인수 완료”
- 파이낸셜신문 (2023-04-04): “파빌리온자산운용 지분 100%를 인수하고, 인수대금 전액을 납입”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.