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Gordian Capital launches Korea fund

The Cayman-domiciled fund is the successor to the Korea-domiciled Align Partners Fund I.

Gordian Capital has launched the Align Partners Korea Fund, which is a successor to the Align Partners Fund I.

The fund is sub-managed by Seoul-based Align Partners Capital Management, which specialises in listed Korean equities with a focus on shareholder activism.

Align’s philosophy is based on the belief that Korea represents “an extreme value market”, with competitive business dynamics.

The Align team is led by Changhwan Lee (pictured), who previously worked in Goldman Sachs’ M&A advisory division based in Seoul as well as KKR’s private equity team in Korea.

At Align, he has worked on several shareholder campaigns at SM Entertainment and seven listed Korean banks.

“Korea is now surprisingly the third largest activist market globally in 1H 2023 after the US and Japan and there is limited competition due to a shortage of local talent with relevant skillset. We are excited to announce the formation of a Cayman-domiciled fund, the Align Partners Korea Fund, the strategy of which we believe offers significant opportunities in unlocking value in Korean equities,” said Lee.

Gordian Capital was formed in 2004 and currently has $13bn in assets under management. It launched its first subsidiary in Singapore in 2005 and now has a presence in Japan and Australia as well.

“We are pleased to partner with Changhwan Lee and the Align team as they work to enhance corporate governance in Korean capital markets,” said Mark Voumard, CEO of Gordian Capital Singapore. “They bring experience and are acknowledged as pioneers in the nascent but rapidly growing activist scene in Korea.”

Part of the Mark Allen Group.