In brief: Singapore-based impact firm hires KKR exec

Kin Wong, who spent the last 10 years at KKR focusing on private equity in Southeast Asia, has joined The Sylvan Group, an impact firm that is currently raising and investing its debut fund. The firm has also appointed philanthropist Valerie Rockefeller as vice-chair of its board, the firm announced last week.

The Sylvan Group was founded in 2019 “following a dialogue between members of the Hyundai and Rockefeller families” and buyout executives from UBS Capital and KKR, the firm said. The co-founders include Kyungsun Chung, a grandson of the founder of Hyundai.

The firm is currently raising its first fund, for which it is targeting $400 million. The firm has already raised around $200 million from friends and family and intends to raise a further $200 million from the wider market with a view to holding a final close by August 2023.

In February, the firm announced it had invested $140.5 million in four Singapore healthcare and pharmaceutical companies.