Package deal covers Acuon Capital and Acuon Savings Bank

EQT focused on digitalization after acquiring group in 2019

Acuon Capital [provided by EQT Partners]
Acuon Capital [provided by EQT Partners]

Global private equity fund manager EQT Partners has agreed to sell Acuon Group — comprising Acuon Capital and Acuon Savings Bank — to a consortium of Hanwha Life Insurance and Centroid PE.

EQT Partners announced Thursday that it has signed a share purchase agreement to sell Acuon Group to the Hanwha Life Insurance-Centroid PE consortium. The deal is expected to close after receiving approval from financial regulators. UBS, Citigroup Global Markets Korea and law firm Sejong advised on the sale.

Acuon is a non-bank financial platform built around Acuon Capital and Acuon Savings Bank, spanning corporate finance, asset-backed lending and retail finance. Founded in 1972, Acuon Savings Bank ranks fifth among domestic savings banks by total loan assets, while Acuon Capital is regarded as the largest independent capital company in South Korea. The two entities have combined total assets of 10 trillion won ($7.36 billion).

EQT acquired Acuon from JC Flowers in 2019 for about 700 billion won. The transaction covers a 96.06 percent stake in Acuon Capital, which in turn holds Acuon Savings Bank as a wholly owned subsidiary. Under the deal, Hanwha Life Insurance will take a 50.54 percent stake in Acuon Capital and Centroid PE will hold 45.52 percent.

EQT had been drawn to the growth potential of South Korea's retail finance market for small and medium-sized enterprises and the prospects of building a digitally driven non-bank financial platform. During its ownership, EQT modernized core digital infrastructure and upgraded credit assessment and risk management capabilities, resulting in a more balanced asset portfolio and improved operational efficiency.

Digital transformation was a particular focus. Acuon Savings Bank built a modern Java-based core banking system — one of only three savings banks in South Korea to operate such a platform. Its mobile app subscriber base surpassed 1 million users, and the entire consumer loan origination process was fully digitized. By integrating data and AI-powered credit scoring models and automated systems, the bank cut loan processing times from roughly 36 hours to under five minutes.

Yeon Da-ye, EQT Private Capital's head of Korea, said the partnership with Acuon exemplified EQT's philosophy of investing heavily in technology and systems capabilities to drive long-term growth. "Acuon has strengthened its market position, diversified its platform and transformed the way it serves customers through digitalization," she said.

Lee Joong-moo, chief executive of Acuon Capital, said the company had built a more competitive business and an agile, customer-focused platform under EQT's support over the years. "I am proud of what we have achieved together," he said. "We will continue to deliver greater value to our customers through better financial services alongside our new partners."


park.jiyeong@heraldcorp.com