Acuon, built up by EQT, headed to Hanwha Life-Centroid Investment consortium... EQT to exit seven-year investment [fn Market Watch]

[Financial News] Global private equity firm EQT is selling Acuon Group (Acuon Capital and Acuon Savings Bank) to a consortium of Hanwha Life and Centroid Investment. After investing in Acuon in 2019, EQT grew it into a nonbank financial platform with approximately KRW 10 trillion in total assets through digital transformation and more sophisticated risk management. It is now moving to exit its investment.
According to investment banking (IB) industry sources on the 30th, EQT agreed to sell Acuon Group, held through EQT BPEA Private Equity Fund VII, to the Hanwha Life-Centroid Investment consortium. The transaction is expected to close after customary conditions precedent, including regulatory approval. UBS, Citigroup and Shin & Kim LLC advised EQT on the sale.
Acuon is a nonbank financial platform centered on Acuon Capital and Acuon Savings Bank, spanning corporate finance, asset finance and retail finance. Acuon Capital has grown into South Korea's largest independent capital company, while Acuon Savings Bank has risen to fifth among the country's savings banks by total loan assets. The two companies have combined total assets of approximately KRW 10 trillion. During EQT's investment period, the focus was less on expanding scale than on improving digital infrastructure and risk-management capabilities. EQT strengthened corporate governance, modernized core digital infrastructure, enhanced underwriting and risk-management capabilities, and rebalanced the asset portfolio.
In particular, Acuon Savings Bank built a modern Java-based core banking system and digitalized the entire consumer-lending process. By introducing data- and artificial intelligence (AI)-based credit scoring models (CSS) and automated systems, it reduced loan disbursement times from approximately 36 hours to less than five minutes. The number of mobile app subscribers also surpassed 1 million.
Yeon Da-ye, head of EQT Private Capital Korea, said, "Acuon has strengthened its position in the market and diversified its platform, particularly transforming how it serves customers through digitalization," adding, "We are proud of what we have achieved together and look forward to Acuon's next phase of growth."
Once the sale is completed, Acuon will move under a new strategic shareholder structure led by Hanwha Life. After increasing the platform's value through digital transformation and scale expansion, EQT is passing the baton to a consortium that brings together a strategic investor (SI) and a private equity fund.
An IB industry source said, "EQT's deal did not simply expand Acuon's scale; it transformed the company's fundamentals into a nonbank financial platform by overhauling its digital infrastructure and risk-management framework," adding, "For Hanwha Life, it also means securing a strategic asset that can expand its nonbank financial portfolio beyond insurance."
 
[email protected] Kang Gu-gwi Reporter