Announced
Financials
Sources
Tags
Private
Friendly
South Korea
Majority
Consumer Lending
Pending
Private Equity
Cross Border
Joint Venture
Acquisition
consumer credit
Synopsis
Apollo, an alternative asset manager, and Belstar, an investment management firm, agreed to form a joint venture. Financial terms were not disclosed. “We have been exploring the market opportunity in Korea with a heightened degree of interest for several years, and are delighted to partner with Belstar to address the market need for alternative forms of liquidity and credit in Korea. We are optimistic this joint venture will serve as a starting point for Apollo's long-term presence in Korea,” Matt Michelini, Apollo Partner and Head of Asia Pacific.
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