COMPLICATED: KIC Invested In Hedge Fund Which is Against Samsung Merger


Activist hedge funds have lured institutional investors such as sovereign wealth funds, endowments and large pensions as limited partners in their vehicles. These hedge funds take calculated bets in concentrated positions to generate massive returns. Samsung is recognized as a national champion among a large segment of people in South Korea. The Korea Investment Corporation (KIC), the country’s sovereign wealth fund, is facing a slight dilemma as it is an investor in a major U.S. hedge fund that is attempting to block the US$ 7.93 billion merger of two Samsung listed companies. The Lee family wants to sell Samsung C&T to their defacto holding company, Cheil Industries to ensure a “smooth” generational succession plan.

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