On Dec. 17, SK FSC proposed extending guide re investment in SPCs.
SK FSC proposed extending the validity of the Guidelines on joint investment of private equity funds in special purpose companies (SPCs), to prevent investor damages.
Follows SK FSC Jan. 2024 proposed enactment re investment in SPCs, see #197260.
Overview of Guidelines
Where multiple private equity funds invest in the same special purpose company, the funds should invest in a way that each acquires a 50% stake in the same SPC.
However, where an institutional private equity fund consisting of qualified institutional investors obtains the consent of all investors, it is permitted for multiple institutional private equity funds to jointly acquire more than 50% equity of the same SPC.
