Michael Kim (businessman)

Michael ByungJu Kim is a South Korean billionaire businessman.[1][3][4] He is the cofounder and partner of MBK Partners, a private equity firm headquartered in Seoul, South Korea. He is known as the "Godfather of Asian private equity".[5]

Michael ByungJu Kim
Born
Seoul, South Korea
EducationHaverford College
MBA, Harvard Business School
OccupationFounder, MBK Partners
Net worthUS$1.5 billion (October 2019)[1]
Spouse(s)Park Kyung-ah
Korean name
Hangul
김병주
Hanja
金秉奏[2]
Revised RomanizationGim Byeongju
McCune–ReischauerKim Pyŏngju

Biography

Early life and career

Michael B. Kim graduated from Haverford College in 1985 with a degree in English. Kim received an MBA from the Harvard Business School in 1990 and received a Fulbright Scholarship afterwards.[6]

Kim begin his career as a mergers and acquisitions banker at Goldman Sachs after graduating from Harvard. In 1995, he joined Salomon Smith Barney, where he became Managing Director and COO of Asia-Pacific Investment Banking. He later joined the Carlyle Group as a president of Carlyle Asia until 2005.[4]

Kim left Carlyle to found MBK Partners in 2005, which has since grown to over $22 billion in assets under management,[1] raising $6.5 billion for its most recent Fund V, becoming the largest independent private equity fund in Asia.[7]

Kim has been notable for breaking several records in the South Korean market. His takeover of ING Korea and listing on the market, was the first time a private-equity owned company listed on exchanges in South Korea.[8] His takeover of Tesco subsidiary Homeplus was the largest private equity deal in South Korea's history.

Kim is or has been on the boards of Harvard Business School[9], Haverford College, KorAm Bank, China Network Systems, Yayoi, C&M, Tasaki, Universal Studios Japan, Coway, ING Life Korea, Homeplus, and the Metropolitan Museum.[10] Kim is listed as one of 73 trustees of the Carnegie Hall Corporation.[11]

In 2015 Kim was ranked #42 on Bloomberg's 50 Most Influential.[12]

Kim is the author of the novel, "Offerings", a national best seller, published in 2020.[13]

Philanthropy

In 2010, Kim pledged $7.5 million toward the construction of a new dormitory at Haverford College.[14]

In 2018, Kim endowed $7 million toward the Michael B. Kim Associate Professorship for Asian business leadership at Harvard Business School.

Personal life

Kim is married to Park Kyung-ah, the daughter of the late South Korean Prime Minister Park Tae-joon under President Park Chung-hee. Park also founded POSCO, the largest steel company in South Korea.

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References
  1. "Michael Kim".
  2. "美금융업체 칼라일그룹 한국에 10억弗투자 추진". Munhwa Ilbo. 29 May 1999. Retrieved 17 September 2018.
  3. "#165 Daniel D'Aniello - Forbes.com". www.forbes.com.
  4. "Korea's Michael Kim Leads Buyout Surge as Foreign Firms Return". Bloomberg.com.
  5. Limited, Haymarket Media. "Michael Kim: Godfather of Asian private equity".
  6. "MBK PARTNERS". 10 July 2015.
  7. "South Korea's MBK Partners raises $4.1b for its fourth fund". www.dealstreetasia.com.
  8. "UPDATE 1-ING Life Insurance Korea raises $974 mln after pricing IPO..." 24 April 2017 – via Reuters.
  9. "Team".
  10. "Michael ByungJu Kim Elected Metropolitan Museum Trustee - The Metropolitan Museum of Art". www.metmuseum.org.
  11. "Board of Trustees". www.carnegiehall.org.
  12. "50 Most Influential - #42". www.bloomberg.com.
  13. Kim, Michael Byung Ju,. Offerings : a novel. New York. ISBN 1-950691-62-4. OCLC 1132243427.CS1 maint: extra punctuation (link) CS1 maint: multiple names: authors list (link)
  14. "Haverford To Build Another New Dorm".
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