Hyundai Commercial, an affiliate of South Korea-based Hyundai Motor Group, and a private equity consortium led by Asia-focused fund manager Affinity Equity Partners have agreed to acquire a combined 43 percent stake in South Korea-based Hyundai Card Company from General Electric. Hyundai Commercial and the Affinity-led consortium, which includes Singaporean sovereign wealth fund GIC and global fund of funds manager AlpInvest Partners, will reportedly invest KRW298 billion (approximately US$256 million) and KRW377 billion (approximately US$324 million), respectively. The transaction is expected to close around the end of February 2017.