South Korea's No. 3 conglomerate SK Group said Sunday it has agreed to team up
with U.S. buyout fund Carlyle Group as part of its push into overseas
investments.
SK Group said that it has clinched a strategic
partnership with the U.S. private equity fund in a bid to strengthen business
synergy by combining the group's expertise in corporate management and energy
with Carlyle's investment skills.
"The partnership would pave the way
for SK Group to grow as a global portfolio investor," the group said in a
statement.
Carlyle Group manages more than $157 billion in assets
across 101 funds and 64 fund of funds vehicles, according to its Web
site.
The move is part of the group's global push pursued since 2008
by making a joint investment with overseas players.
The group added
that it plans to expand strategic partnership with foreign companies in a bid to
create a joint fund investment.