MBK Partners raises $1.56 billion

Rainmaker KC Kung has left MBK Partners as the private equity firm gears up to raise its biggest ever fund.

The US firm will invest in Japanese PE funds and direct co-investments.

Asia Fund VI exceeded its $7bn target and will focus on opportunities across technology, industrials, consumer, healthcare, business and financial services.

BPEA IX will focus on control investments in leading companies across technology, healthcare, industrial technology, services, and technology services; several deals have already closed in Japan and South Korea.

MBK is selling its 60% stake in Taiwan’s biggest cable TV broadcaster at the second attempt after tussles with the regulator; a salutary lesson in the risks of Asian deal making.

The US investment giant exceeded its $10bn target after an active 24 months of deals in the region, especially in India and Japan.