KEB Hana Bank

The secondaries strategy sits within the bank's trust division, with ultimate oversight from CEO Ham Young-joo. Day-to-day investment committee decisions are made by the trust division's investment team, though the bank does not publicly name dedicated secondaries portfolio managers. The program operates under the governance framework of a regulated commercial bank, with board-level risk oversight.

KEB Hana Bank sources secondaries primarily through relationships with global secondaries intermediaries and lead buyers. The bank participates in syndicated transactions alongside firms like Ardian and Lexington Partners, where it has established LP relationships. It also leverages its domestic Korean network to access locally originated continuation vehicle and LP-stake sale opportunities.

KEB Hana Bank pursues both routes. It makes fund commitments as an LP to established secondaries managers globally. It also invests directly in secondaries transactions — acquiring LP fund stakes and participating in GP-led continuation vehicles. The direct co-investment approach allows the bank to avoid double fees on transactions where it can underwrite the underlying portfolio.

The secondaries portfolio favors diversified, mature private equity portfolios across North America, Europe, and Asia. The bank shows a preference for buyout and growth equity fund stakes over venture-heavy baskets. Infrastructure and private credit secondaries have also appeared in its mandate, consistent with the liability-matching needs of a commercial bank balance sheet.

KEB Hana Bank's proprietary secondaries program is separate from Hana Financial Group's external asset management affiliates, such as Hana Asset Management. The bank's trust division deploys the bank's own balance-sheet capital, whereas the group's external managers raise and deploy third-party client money. This creates a principal investing posture distinct from the group's fee-based asset management businesses.

KEB Hana Bank participates as a co-investor in syndicated secondaries transactions, taking down portions of larger LP portfolio sales or continuation vehicle equity alongside lead buyers. It does not market itself as a sole lead on large-scale transactions, operating instead as a reliable syndicate participant with the balance-sheet capacity to write meaningful tickets.

Hana Financial Group operates the Hana Foundation, which runs scholarship programs, community development initiatives, and cultural support activities in South Korea. The foundation is structurally separate from KEB Hana Bank's trust division and proprietary investment activities. It does not represent a deployment channel for the secondaries program.