News & Analysis

Report: Lone Star may sell KEB stake to CalPERS

The US private equity firm continues its search for an exit from the Korean bank after reported discussions with TPG and Oaktree failed to produce a deal.

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Lone Star Funds may soon begin talks with the California Public Employees’ Retirement System (CalPERS) about selling its stake in Korea Exchange Bank (KEB), after negotiations between Lone Star and TPG fell through over price disagreements, financial industry officials told the Seoul Economic Daily. 

Oaktree Capital Management was also reportedly approached about a potential deal for the 51 percent stake Lone Star acquired in KEB for $1.2

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