Flashlight Capital Partners

About

Flashlight Capital Partners (“Flashlight Capital”) takes an active approach to equity investment. We do not sit and hope for improvements. We engage directly with the management and seek opportunities for value creation that benefits both management and shareholders.

Flashlight Capital was founded by Sanghyun Lee, who has over 20 years of experience in private equity including The Carlyle Group where he worked as the Head of Korea for eight years. Sanghyun has a prior experience as a management consultant at McKinsey & Company.

We believe that adopting a private equity approach, where management is properly incentivized to work toward common goals, can unlock significant value for all stakeholders.

Strategy

We invest in highly selected companies that meet the following criteria

1

Industry with stable and profitable growth

2

Company that has shown excellent competitive edge

3

Deep valuation discount

4

The source of discount can be eliminated by the right governance

Approach

PE-style Research

Our research extends far beyond financial statements and analyst reports. We meet with various stakeholders, including management, employees, customers, suppliers, competitors, and industry experts. Through these engagements, we identify and leverage key valuation improvement levers.

Constructive Dialogue First

We prioritize open and collaborative discussions, fostering an environment where diverse perspectives are listened to.

Active Engagement

This defines our ethos. We do not adopt a passive stance and hope for the best. Instead, we believe that shareholders are the rightful owners and should actively exercise their voting rights. Fragmented rights doesn’t mean no rights.

No Ghosting

We believe that active engagement is the most effective way to drive meaningful change in ESG practices. Rather than shunning companies, we aspire to be the first to extend a helping hand and offer constructive solutions.

ESG: GOING BEYOND “E”

True ESG starts with governance.

You wouldn’t expect a car to go straight if the driver is asleep at the wheel. Similarly, without proper governance, any efforts to enhance ESG performance will lack direction and impact.
We don’t believe exclusionary strategy can solve the root issues. By prioritizing sound governance practices, we believe that even tobacco companies can play a pivotal role in driving substantial ESG advancements.

MANAGING PARTNER

Sanghyun Lee

Sanghyun Lee possesses two decades of private equity experience in Korea. He was Head of Korea at The Carlyle Group, Managing Director at Affinity Equity Partners, and worked at GIC (Government of Singapore Investment Corporation) and McKinsey & Company.

Sanghyun is a graduate of Seoul National University and Harvard Business School.