COMPANY
About
Premier Partners
Founded in 2005, Premier Partners was established as Korea's first fund management firm operating under a Limited Liability Company (LLC) structure. Over the years, the Firm has grown to become one of Korea’s leading private equity and venture capital firms. Initially launched as a venture capital firm, Premier Partners expanded into private equity in 2010 and now operates three distinct divisions: Private Equity, Venture Capital, and Bio/Healthcare.
Comprised of partners with an average of 19years of investment experience, including two founders who have been working together at the same firm since 1997, Premier Partners has achieved successful investment outcomes through IPOs, M&As, and other strategic exits, leveraging extensive industry experience and expertise.
Since its inception, Premier Partners has managed a cumulative total of KRW 3.53 trillion in assets, ensuring strong alignment with stakeholders through GP commitment and a robust compliance framework.
AUM
Companies
(Gross)
investment strategy
Substantial industry experience
Support for growth
Small and Medium business center
HISTORY
Since establishing the first Blind Venture Fund (VF) in 2005 and commencing investments, we have formed 12 VFs and 7 Private Equity Funds (PEFs).
OUR PARTNERS
Premier Partners, leveraging its distinguished reputation, extensive investment expertise of its fund management team, and differentiated investment strategies, manages assets entrusted by a broad spectrum of prominent domestic and international institutional investors, including the National Pension Service of Korea.
Pension fund / mutual aid association
financial institution
general corporation
overseas
ESG
1. ESG Principles
· Premier Partners, LLC (hereinafter referred to as “the Company” or “we”) pursues the harmonious development of people, environment, and society.
· The Company complies with domestic and international environmental laws and conventions, builds an environmentally friendly organizational culture, and raises the environmental awareness of directors, officers and employees.
· The Company respects the human rights of its directors, officers, and employees, prohibits discrimination, and enhances the quality of life of individuals by providing adequate compensation, stable employment, and occupational health and safety.
· The Company shall provide directors, officers and employees with appropriate education, training, and skills development opportunities to expand their personal capabilities and ultimately contribute to the development of society.
· The Company shall establish internal norms to ensure that directors, officers and employees act ethically and responsibly in their relationships with each other and with external stakeholders.
· Decisions on major management matters will be made through mutual and careful discussion at a general meeting of shareholders, and the Company will provide employees with transparent and sufficient information necessary for decision-making.
· Auditors will conduct their audit work independently and have free access to the information they need to perform their duties as auditors.
· The Company shall make the disclosures required by law in a timely and easily understandable manner.
2. ESG Investment principles
· The Company shall implement ESG investments by integrating both financial and non-financial factors including ESG factors, in the process of analyzing investment targets and making investment decisions to develop a healthy and sustainable society and increase investment returns.
· For the improvement of ESG management as well as the mid- to long-term performance of the investee companies, the Company will examine important issues related to nonfinancial factors including ESG factors and implement ESG investments through continuous engagement including dialogue, participation and exercise of shareholder rights.
· The Company shall endeavor to enhance the capabilities and expertise of its directors, officers, and employees necessary for the implementation of ESG investments.
· The Company shall regularly report the status of the implementation of ESG investments to the shareholders of the Funds.
3. ESG Investment principles – Action plan
1) Investment target filtering
· No investments in weapons manufacturers, alcohol and tobacco producers and suppliers, and the managers and operators of gambling facilities. For the purposes of this policy, weapons refer to controversial weapons—such as inhumane conventional military weapons, biological and chemical weapons, and nuclear weapons—that cause indiscriminate and excessive harm and suffering and are prohibited under international treaties to which the Republic of Korea is a signatory, as well as civilian firearms.
· No investments in socially harmful companies that violate human rights and cause serious environmental damage.
· No direct investments in the construction of coal power plants or financial investments through related corporate bonds.
· Prioritize investing in companies that offer green products or services.
2) Investment decision phase
· Utilize the ESG checklist to understand the ESG status of the company and obtain an ESG commitment letter.
· If the ESG Committee deems necessary, it may engage an external organization to conduct ESG due diligence on an investee company.
· The ESG Committee will determine whether an investee company is eligible for ESG investment through the ESG checklist or ESG due diligence report.
· The Investment Review Committee will consider non-financial factors, such as the results of the ESG Committee’s investment eligibility review, along with financial factors when making investment decisions. Non-financial factors may be applied differently depending on individual circumstances, depending on how the Fund is managed as well as the sector and size of the investee company.
3) Monitoring
· Periodically receive ESG-related information from investee companies and review ESG issues.
· Suggest and support ways to improve the ESG issues of investee companies through dialogue and discussion; and consider ESG factors when exercising shareholder rights and submitting opinions to the board of directors.
4) Report
· Prepare periodic reports, which include ESG factors, for submission to the shareholders of Funds at least once a year.
STEWARDSHIP CODE
Premier Partners LLC (hereinafter referred to as “Premier Partners” or “the Company”) hereby announces the implementation of the Premier Partners Stewardship Code, which contains policies on fiduciary responsibility based on the “Principles on the Responsibilities of Institutional Investors and Asset Managers” published by the Korea Corporate Governance Service, effective as of April 27, 2018.
Premier Partners, as an asset manager entrusted with assets from domestic and international pension funds, fund of funds, etc. (hereinafter referred to as “Investors”), establishes and manages venture capital associations and management-participation type private equity funds (collectively referred to as “funds”), and aims to fulfill the duties of a diligent manager and the responsibility as a trustee for the ultimate contribution to the long-term interests of asset owners and the advancement of the domestic capital market.
1. Institutional investors must establish and disclose clear policies to faithfully fulfill their responsibilities as trustees who manage and operate the assets of clients and beneficiaries.
As a responsible manager, Premier Partners will do its utmost to ensure that the investors in the funds it manages achieve the best interests. Furthermore, the Company has developed this Premier Partners Stewardship Code and is publicizing related policies in accordance with relevant laws, fund regulations, and agreements, in order to faithfully fulfill the trustee responsibilities granted to the Company.
The Company, as the trustee, promises to prioritize the interests of Investors above all else in its activities and shall manage its fund in such manner even in situations of potential conflicts of interest. To minimize the possibility of conflicting interests, Premier Partners has established internal regulations such as provisions regarding conflict-of-interest prevention and implemented a system corresponding to such matters, while also fostering a sense of professional ethics among its employees through consistent education of its members.
Premier Partners regularly conducts thorough examinations of the financial and non-financial status of investee companies and plays a role in enhancing their long-term value through continuous communication with management.
The Company strives to establish a consensus with investee companies while exercising voting rights on important matters based on final opinions derived from rigorous internal deliberations and also actively engaging in shareholder activities. Premier Partners adheres to the principle of regularly reporting such activities and post-management status to its Investors.
The Company is committed to acquiring the necessary capabilities and expertise for the effective fulfillment of trustee responsibilities.
2. Institutional investors must establish effective and clear policies on how to address actual or potential conflicts of interest that may arise during the fulfillment of their trustee responsibilities and disclose the details.
As a limited liability company, Premier Partners does not have external shareholders or separate related parties. Therefore, all of the Company’s operating personnel hold the Company’s shares with no external shareholders or other such separate stakeholders. This allows Premier Partners to have a shared interest in the success of the funds managed by the Company, and this alignment of interest ensures a healthy relationship between the Company and its Investors.
Furthermore, the Company has established internal control standards to prevent potential conflicts of interest that may arise during the fund’s operations and continuously monitors such possibilities under such standards. The Company also appoints a compliance officer responsible for overseeing the occurrence of such conflicts of interest and compliance with internal control standards to help prevent and minimize potential conflicts of interest between the Company and its Investors or among the funds managed by the Company.
In cases where the Company determines that conflicts of interest may arise in the operation of the funds, it shall provide prior notification and engage in discussions with the Investors to ensure that the interests of the Investors are not compromised, thereby committing to faithfully fulfilling the fiduciary duty entrusted to it by the Investors.
3. Institutional investors must regularly review the target companies to enhance their long-term value and preserve and increase the value of the investor's assets.
Premier Partners fosters the ongoing growth of the target companies by engaging in regular discussions with their management on key issues and receives financial and non-financial updates on a quarterly basis to allow for the preparation of reports for the Investors to assess the operational status of the target companies. The purpose of such periodic reviews is for the early identification of management issues and to respond promptly with appropriate measures, ultimately ensuring the sustainable growth and long-term enhancement of the target companies’ value.
As an asset management firm specializing in management participation funds, Premier Partners appoints its representatives to the boards of directors of the target companies to continually monitor their management situations. In cases involving buyout deals that entail the acquisition of management control, internal members of the Company actively participate in the management process to enhance the value of the target companies through financial restructuring, human resource reinforcement, and securing business networks. In cases of minority interest investments, the Company strives to ensure its opinions are appropriately reflected in the target companies’ management, while actively exercising the rights granted by the Commercial Act such as the shareholder’s right to proposal and the right to demand the convening of an extraordinary shareholders’ meeting when necessary.
4. Institutional investors must strive to establish mutual understanding with the target companies and, when necessary, develop internal guidelines regarding the timing, procedures, and methods for fulfilling fiduciary responsibilities.
Premier Partners seeks to establish trust through engagement with management and key personnel of the target companies, starting from the investment review stage. Furthermore, the Company focuses on activities that enhance the long-term value of the target companies through proactive post-investment management, aiming to build a deep understanding and mutual alignment.
In the process of active shareholder engagement, the Company shall comply with the regulations stipulated in the Financial Investment Services and Capital Markets Act (hereinafter “Capital Market Act”), including the prohibition of using undisclosed material information and market manipulation practices. Premier Partners commits to adhering to such regulations and will not engage in unfair advantages of information or pursue illegitimate trading gains.
5. Institutional investors must establish and disclose their voting policies, including guidelines, procedures, and specific criteria, to ensure faithful exercise of voting rights, and disclose the detailed content and reasons for their voting decisions to enable an assessment of the appropriateness of the exercise of voting rights.
Premier Partners conducts a thorough internal review of shareholder meetings and pre-agreed matters of the target companies. The Company also exercises its voting rights in a manner that maximizes the interests of fund investors by putting together the information obtained through candid conversations and open discussions with the management of the target companies.
The voting decisions made by the Company are primarily based on independent decision-making derived from discussions among responsible investment managers and Premier Partners, without relying on external advisory services. The Company may utilize external advisory services on a limited basis as necessary in the future, depending on specific circumstances.
Premier Partners provides detailed reports on the exercising of its voting rights and the voting history to the fund’s investors through regular general meetings when requested by the Investors. As a private equity fund manager, the Company primarily invests in unlisted companies, and since most of the portfolio companies are not publicly traded, the Company does not disclose voting rights exercise details to the general public through its website.
6. Institutional investors are required to provide regular reports to their clients and beneficiaries regarding their exercise of voting rights and the fulfillment of fiduciary duties by the asset manager.
Premier Partners prepares quarterly reports on the status of the portfolio companies, post-investment management activities, and the fulfillment of fiduciary duties, which are then shared with the fund’s investors. These reports are incorporated into the ERP system to enhance reporting and internal management efficiency.
Additionally, semi-annual and annual general meetings are held for fund members and employees to provide operational reports on the portfolio companies and seek approval for the fund’s investment activities as a standard practice.
7. Institutional investors must possess the necessary capabilities and expertise to actively and effectively fulfill their fiduciary responsibilities.
Premier Partners, as a venture capital fund and a manager of management buyout funds, has partners that have an average of 20 years of experience in investing in small and medium-sized enterprises, venture capital, and growth-stage companies, and brings expertise in VC, growth-stage, and buyout investments.
Furthermore, the fund’s management team has diverse industry knowledge and networks based on their previous work experience in various sectors such as electronics, telecommunications, automotive, plant engineering, securities, medical devices, biotechnology, and strategic consulting at renowned domestic companies. The team includes in-house lawyers from prestigious law firms and accountants from reputable accounting firms, enabling a comprehensive assessment of financial, non-financial, and tax risks and ensuring legal compliance in investment decisions.
Premier Partners consistently supports the participation of its employees in professional development programs to maintain their capabilities and expertise in fulfilling fiduciary responsibilities. The Company regularly evaluates and monitors the competency and expertise of its staff to ensure their continued professional growth.
Responsible person
Cheongjo Hwang / Principal / Lawyer
TEL. 82.2.554.0030 / E-MAIL. cjhwang@premierpartners.co.kr
Person in charge
Tae woong Kwon / Director
TEL. 82.2.554.6139 / E-MAIL. twkwon@premierpartners.co.kr
Responsible person
Cheongjo Hwang / Principal
TEL. 82.2.554.0030
E-MAIL. cjhwang@premierpartners.co.kr
Person in charge
Tae woong Kwon / Director
TEL. 82.2.554.6139
E-MAIL. twkwon@premierpartners.co.kr
