KC Kung leaves MBK Partners

Kuo-Chuan Kung is leaving MBK Partners, a person familiar with the move said on Tuesday.

The departure of the prominent rainmaker, known as KC Chung, comes as MBK Partners attempts to raise its biggest ever fund at $4 billion for deals across North Asia.

It was unclear how Kung's exit would impact potential investors' perceptions of the firm. 

MBK Partners' largest deal yet -- the purchase of Tesco’s Korean discount retail chain Homeplus for $6.4 billion -- propelled the Korean-headquartered firm into the big league by beating KKR on price.

However, MBK is currently struggling to sell...