People: Kim into the parlour
American private equity specialist Shane Ho Kim has joined the board of AIM-quoted Planet Payment Inc, an ambitious New York-based international multi-currency payment and data processor. He is a managing member of Camden Partners with a focus on transaction processing and payments and first came in contact with Philip Beck, Planet Payment’s chairman and chief executive, eight years ago.
‘We reconnected at a conference in 2006,’ recalls Kim, 34, ‘and then we bought our stake.’ Camden, which is also a backer of AIM-quoted Lombard Medical, put £5 million into the company the following year and now holds 11.7 per cent of the shares.
Kim, who ran hedge funds for Camden for five years, has himself been granted 50,000 narrowly in-the-money Planet Payment options. ‘I am very excited about this and so is Camden,’ he enthuses.
‘Planet Payment provides truly unique services in everyone’s space,’ he argues, singling out retailers and cross-border traders. As an investor, he says Camden ‘tries to be helpful’, unlike some of the hedge funds, and has no set timetable for exiting an investment.
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