Hahn & Company, the nation's largest private equity firm based on assets under management, said Tuesday that it has completed the sale of SK Eco Prime, a leading biodiesel manufacturer, to Hillhouse Capital, a global equity manager based in Singapore.

The company declined to reveal the deal size, but the acquisition is estimated to have been made at between 400 to 500 billion won ($306 to 382 million), according to news reports.

Hahn & Co. acquired SK Chemical's bioenergy division in early 2020 at 382.5 billion won through a 3.8 trillion won fund, and formed the current SK Eco Prime. During Hahn & Co.'s ownership, SK Eco Prime also acquired DH Bio, a biodiesel raw material manufacturer to expand its business.

SK Eco Prime is one of the largest biodiesel manufacturers here. In 2022, it posted 829.3 billion won in revenue and 84.2 billion won in operating profit, marking a leap from its previous earnings before being acquired by Hahn & Co.

With the buyout, Hillhouse Capital has expanded its portfolio in Korea. In June, it put in around $400 million in the local leading battery maker SK On through a consortium formed with another private equity giant MBK Partners.

It has also invested in fresh food delivery platform Kurly, food delivery platform service Woowa Brothers and game giant Krafton.