SEOUL, Apr. 11 (Korea Bizwire) — Investment deals by South Korea’s private equity funds jumped 39.3 percent on-year in 2017, but their investments were still centered on local firms, government data showed Wednesday.
Local private equity groups invested 12.4 trillion won (US$11.6 billion) last year, compared with 8.9 trillion won in 2016, according to the data by the Financial Supervisory Service (FSS).
Of the total investments, 11.5 trillion won was invested in local firms in 2017, the data showed.
Last year’s investments by private equity funds were significantly higher than a three-year average investment of 8.9 trillion won, it said.
In a statement, the FSS said the nation’s private equity funds are expected to grow further due to the government’s move to ease regulations.
At the end of last year, there were 444 private equity funds with assets under management of 62.6 trillion won, according to the data.