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Biz News Korea(Eng)
Korea’s IMM PE starts bid to raise $1.67B blind fund
- Collected
- 2018.02.02
- Distributed
- 2018.02.05
- Source
- Go Direct
IMM PE kicked off fund-raising campaign with a goal to complete the registration of its fourth blind fund within this year, according to a source. A blind fund refers to a method of raising a fund without determining where the money will be invested.
IMM PE recently held a series of investor relations events for Korean and foreign limited partners, explaining results of previous years and preparations to create a new fund, said the source.
IMM PE’s initial target for its fourth fund is 1.8 trillion won, of which 400 billion won will be allocated for foreign investors. Its previous third fund was sized at 1.25 trillion won, of which 200 billion won was raised from overseas. IMM PE’s key foreign investors include Pavilion Capital Pte, a subsidiary of Temasek Holdings, a sovereign wealth fund controlled by the Singapore Government.
IMM PE’s fourth fund will be the largest single blind fund since IMM’s establishment and second behind MBK Partners’ fourth fund worth 4.8 trillion won in Korea. The larger the fund the more likely it will target large deals.
IMM has been expanding its footprint in various industry sectors as a home-grown private equity fund. Last year IMM acquired online shopping mall W Concept Korea for 61.2 billion won and Able C&C known for famous makeup brand Missha for 327.4 billion won.
By Han Woo-ram and Minu Kim
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]