[THE INVESTOR] South Korean private equity fund VIG Partners (formerly known as Vogo Investment Group) has signed a contract to acquire 84 percent stake in funeral service provider Good Sangjo for 65 billion won (US$58.89 million), it announced on Sept. 29.

It has established a 513 billion won fund -- attracting 255 billion won investment from National Pension Service, 202 billion won from local financial institutions and 56 billion won from foreign institutional investors – and has decided to invest in Good Sangjo, making it the largest company in the country’s funeral industry by paid-in capital. 

By Hwang You-mee (glamazon@heraldcorp.com)