Korea`s Shinhan Financial Group Co. will pool 500 billion won ($420.7 million) in Korean capital for investment into debts issued by U.S-based private equity giant Kohlberg Kravis Roberts & Co. (KKR) under their strategic partnership formed last year. The country`s second-largest financial holding entity will raise 500 billion won from local investors in two phases by the end of June and invest the fund into KKR`s 30-year bonds, according to investment bank industry sources on Sunday. No additional details on the investment have been reported. This will be the first joint project between Shinhan and KKR since they formed a strategic partnership last year. The two companies entered an agreement on creating joint blind funds worth up to 5 trillion won in return for pulling in KKR`s investment in Shinhan`s purchase of Orange Life Insurance. The partnership has been scaled down after KKR decided against buying shares in Orange Life. Next news.
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