A ceremony was held to sign a memorandum of understanding (MOU) for comprehensive business cooperation between KB Financial Group and Blackstone, the world’s largest private equity firm in New York city in the U.S. on May 16, local time. The announcement came on May 20, marking a significant step in the collaboration between the two entities.
The signing event took place at the “Invest K Finance” event hosted at Conrad New York Downtown. Notable attendees included Yang Jong-hee, chairman of KB Financial Group; Stephen A. Schwarzman, founder and chairman of Blackstone Group, and Lee Bok-hyun, chairman of the Financial Supervisory Service.
KB Financial has previously collaborated with Blackstone in areas such as alternative asset funds and financing. The newly signed MOU aims to expand these cooperative efforts into more diverse investment fields.
Chairman Yang of KB Financial Group stated, “In partnership with Blackstone, a leading global operator, we will actively explore new investment opportunities both in the domestic and international markets. We aim to lead the expansion of Korea’s financial industry into global asset management.”
The partnership signifies KB Financial’s commitment to leveraging Blackstone’s extensive resources and network to bolster its presence in global markets, enhancing its investment portfolio and reaching new heights in the financial sector.
