Affinity Equity Partners

Infobox_Company
company_
company_name = Affinity Equity Partners
company_type = Private Ownership
foundation = 2002
location =
industry = Private Equity
products = Private equity funds
assets = $3.5 billion
homepage = [http://www.affinityequity.com/ www.affinityequity.com]

Affinity Equity Partners is one of the largest dedicated Asian private equity firms and focuses on leveraged buyout and growth capital transactions. Affinity invests primarily in companies that produce consumer-related goods and services as well value-added manufacturing, healthcare, financial services, and business services companies.

Affinity typically invests in companies based in the Asia Pacific region with a focus on Australia, Greater China, Hong Kong, Japan, Korea, Singapore and Taiwan.

Affinity was founded by Kok-Yew (K.Y.) Tang and David Lai in 2002 The firm is headquartered in Hong Kong with offices in Seoul, South Korea, Singapore and Sydney, Australia.

History

The two founders of Affinity, K.Y. Tang and David Lai, joined UBS Capital in the mid-1990s. Affinity, founded in 2002, was originally known as UBS Capital Asia Pacific to serve as the Asian private equity arm of UBS AG. UBS Capital Asia Pacific was spun out as an independent firm in March 2004. In 2004, Affinity raised its first independent private equity fund, Affinity Asia Pacific Fund II, with $700 million of investor commitments. In 2007, Affinity raised its next fund Affinity Asia Pacific Fund III with $2.8 billion of investor commitments, which was the largest private equity fund raised to that point in Asia. [Sibun, Jonathan " [http://www.efinancialnews.com/homepage/content/1047082525 Former UBS team breaks Asia buyout record] ." Dow Jones Financial News, January 29, 2007]

Among Affinity's notable investments are the following:

*Colorado Group Limited – an Australian company that operates a chain of clothing retailers acquired by Affinity in a hostile takeover in 2006. [ " [http://www.theage.com.au/news/business/affinitys-affinity-for-colorado-proof-that-private-equity-ismainstream-player/2006/07/18/1153166383260.html Affinity's affinity for Colorado proof that private equity is mainstream player] ." The Age, July 19, 2006]

*Hi-Mart - a South Korean online shopping mall and chain of electronics stores acquired by Affinity, together with Temasek Holdings in 2005 and sold in 2008. [Walker, Rupert. " [http://64.233.169.104/search?q=cache:tmZcJuMtEggJ:www.financeasia.com/article.aspx Eugene closes $2.12 billion Himart deal] ." FinanceAsia.com, February 5, 2008] [Kuo, Patricia and Chan, Cathy. " [http://www.iht.com/articles/2007/08/20/bloomberg/bxhimart.php Buyout groups set sights on Himart] ." International Herald Tribune, August 21, 2007]

*Jaya Holdings – Affinity acquired a minority interest in Jaya, a Singapore-based offshore shipping and shipbuilding company, in 2006 [Hardy, Alfean. " [http://www.theedgedaily.com/cms/content.jsp?id=com.tms.cms.article.Article_657ba112-cb73c03a-11a0d350-9eb3d230 Sime Darby subsidiary to divest Jaya stake for RM700m] ." Edge Daily, October 20, 2006]

*Mando Corporation - a Korean automotive parts manufacturer acquired by Affinity, together with CCMP Capital Asia in 2000 and sold in January 2008 [" [http://www.reuters.com/article/privateEquity/idUSSEO29570220080121 UPDATE 2-CCMP, Affinity sell S.Korea's Mando for $690 mln] ." Reuters, January 21, 2008]

External links

* [http://www.affinityequity.com/ Affinity Equity Partners] (company website)

References