Dechert acted as counsel to SK Inc. for the deal.
SK Inc. (formerly SK Holdings) (“SK Inc.”) completed its joint launch of a new mobility fund – a private equity investment fund focusing on the new mobility sector, with Zhejiang Geely Holding Group (“Geely Automobile”). SK Inc. and Geely Automobile have also seeded the fund with US$60 million. The fund is expected to raise US$300 million in aggregate commitments.
SK Inc. is the holding company of South Korea’s third largest conglomerate SK Group and Geely Automobile is China’s largest automaker. Building upon the expertise of both companies, the new fund will focus on investments in innovative mid-to-late-stage growth companies in fields such as autonomous driving, electrification and connectivity.
Dechert acted as legal advisor to SK Inc. with a team led by the Hong Kong-based partner Michael Wong (Picture), and also included partners David Cho, Karen Anderberg, and Adrienne Baker in Hong Kong, London and Boston respectively, associates Mack Wan, Gilbert Cheng and Susan Yoon in Hong Kong, as well as associate Laurel Neale in London.
Involved fees earner: Karen Anderberg – Dechert; Adrienne Baker – Dechert; Gilbert Cheng – Dechert; David Cho – Dechert; Laurel Neale – Dechert; Mack Wan – Dechert; Michael Wong – Dechert; Susan Yoon – Dechert;
Law Firms: Dechert;
Clients: SK Holdings;