CVC appoints JP Morgan’s Lim as Korea chairman
Thursday, August 13, 2015
(FinanceAsia by Alison Tudor-Ackroyd) – CVC Capital Partners has hired Steve Lim from JP Morgan to be its chairman in Korea at a time when buyouts are mushrooming in the country.
Lim will be based in Seoul. Prior to joining CVC, Lim was the chief executive and managing director of JP Morgan in Korea where he was also the member of the Asia-Pacific management committee.
A JP Morgan spokeswoman confirmed that Lim is leaving the US investment bank after a hand-over period. He has been replaced by Tae Jin Park as senior country officer and head of investment banking for Korea.
Korea has been an active and competitive buyout market with sizeable deals hitting the market. Last year the value of private equity investments in Korea climbed to $8.72 billion from $6.68 billion in 2013 according to data provider Dealogic. Most sales have been sold via auctions at steep earnings multiples.
