April 19, 2024

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[THE INVESTOR] TPG Capital, the US-based private equity fund finalizing its reentry plan to the Korean market after an eight-year hiatus, on Aug. 22 said it has recently named Lee Sang-hoon, managing director of Morgan Stanley Private Equity Asia, as its new Korea chief.

Lee, 45, is joining as a Hong Kong-based partner, a new position at the firm. 

TPG Capital’s new Korea chief Lee Sang-hoon

He has led Morgan Stanley Private Equity Asia since 2011, leading several successful investment deals, including Hyundai Rotem and Hyundai Innocean, Hyundai Motor Group's train-making and advertising units, respectively.

He is also the elder son of Lee Hak-soo, Samsung Electronics Chairman Lee Kun-hee's former right-hand man. His younger brother Lee Sang-ho is CEO of the Korea-based Glenwood Private Equity Fund.

TPG, one of the largest private equity funds globally, exited its investment in Korea in 2007, selling Hanaro Telecom, which is now SK Telecom. It then shut down the Korean office in 2008.

In 2014, the firm participated in bidding for KT Rental, a rental car service affiliate of the telecom carrier that was sold to Lotte Group in 2014 and which is now Lotte Rental.

TPG said in a statement that Lee “will assist in sourcing and managing new private equity investments” for the firm in Korea.

By Lee Ji-yoon (jylee@heraldcorp.com)