Asia Digest: VIG Partners sells Preed Life stake to KKR; Actis RE platform invests in Thailand

by deanne79i745

South Korean PE firm VIG Partners has sold a partial stake in Preed Life to KKR while Actis platform Levanta Renewables acquired a solar project portfolio in Thailand.

Korean PE firm VIG Partners sells partial stake in Preed Life to KKR

South Korean private equity firm VIG Partners announced selling a partial stake in funeral service provider Preed Life to global buyout major KKR.

VIG Partners did not disclose the number of shares it is divesting and the financial details of the deal but said the transaction values Preed Life at 1 trillion won (about $723 million), per the announcement.

VIG acquired Preed Life in 2020 through VIG Fund III and VIG Fund IV. It then merged the funeral service provider with another industry player, Joun Life, a year later.

In 2021, VIG Partners sold a 10% stake in Preed Life to Master Partners, the PE arm of real estate asset manager Master Investment Management.

Founded in 2005, VIG Partners has a track record of investing in small- and medium-sized enterprises across diverse sectors, including financial services, consumer goods, e-commerce, and household appliances.

VIG has $2 billion in assets under management across four buyout funds and one credit fund.

Levanta Renewables acquires solar project portfolio in Thailand

Levanta Renewables, the SE Asian renewable energy developer and independent power producer of private equity firm Actis, has made its first investment in Thailand.

In a statement, the firm said it acquired a 90% controlling stake in a 139.5 MWp operating solar project in Thailand, marking its first transaction and entry into the Thai market.

Levanta acquired 24 ground-mounted solar farms spread across four provinces in Thailand from Super Energy Corporation Public Co Ltd, a Thai RE developer with operations in Thailand and Vietnam.

The acquisition forms part of Levanta’s goal of achieving 1.5 GW of operating capacity across Southeast Asia. Levanta is one of nine energy generation businesses Actis has invested in across Asia.

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