Seoul-based private equity firm Hahn & Company has completed the sale of SK Eco Prime, a South Korean biodiesel maker, to Singapore-headquartered fund manager Hillhouse Investment.

Hahn & Co acquired SK Chemical’s biofuel division in early 2020 in a deal valued at 380 billion won (US$340 million), and formed SK Eco Prime. The acquisition was part of its efforts to increase its investments in environment-friendly businesses.

During Hahn & Co’s ownership, SK Eco Prime also acquired DH Bio, a biodiesel raw material manufacturer, to expand its business.

Founded in 2010, Hahn & Co. is one of the largest private equity firms in South Korea. Companies it controls generate revenues in excess of 19 trillion won with assets of 48 trillion won. It has over 30,000 employees worldwide.

Hillhouse is a full life-cycle private equity firm, investing for the long term across opportunities in healthcare, industrials, energy transition, business services, and consumer industries. The firm manages capital on behalf of global institutions such as non-profit foundations, endowments, and pensions globally.