KIC Invests in Golub Capital, a US Private Debt Asset Manager

Diversifying Direct Investment Capabilities Amid Expansion of Alternative Assets

[Asia Economy Reporter Park So-yeon] The sovereign wealth fund Korea Investment Corporation (KIC) has acquired a stake in the U.S. private credit firm Golub Capital, aiming to strengthen its alternative investment portfolio's profit-generating capabilities through enhanced partnerships with global asset managers.

On the 9th, KIC announced that it signed an agreement to acquire a stake in Golub Capital, one of the largest private credit managers in North America. This investment involves KIC directly acquiring a minority stake of less than 5% without voting rights in Golub Capital.

Based on the trust built with Golub Capital's management and company as an alternative asset delegated manager, KIC plans to share profits from the company's growth through direct equity investment and further expand the partnership in the future.

David Golub, President of Golub Capital, said, "We welcome KIC's confidence and investment decision in our private credit management capabilities. Based on a strategic partnership with KIC, a world-leading institutional investor with excellent long-term investment experience, we have laid the foundation to grow into a top financial institution."

President Jin Seung-ho stated, "Through strengthening partnerships with overseas asset managers via this equity acquisition, we expect synergy effects such as stable long-term profit generation, collaboration, and capacity building of employees through mutual growth. KIC will continue to enhance both indirect and direct investment capabilities to grow into a truly global investment institution."

Golub Capital is a large private credit firm headquartered in the U.S., managing a total of $55 billion in assets as of October 1, 2022, and employing 725 staff worldwide in locations including New York, Chicago, and London.

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