이 기사는 2019년 12월 19일 08시00분 thebell에 표출된 기사입니다

South Korea’s KB Securities PE, the private equity unit under KB Securities, has pulled off a great fundraising performance this year.

KB Securities PE is expected to close its Corporate Restructuring Fund soon at 250 billion won ($214 million), together with NAU IB Capital, according to industry sources on December 13.

KB Securities PE started raising money for the fund this summer after appointed as an external manager for one of the fund-of-funds vehicles run by Korea Growth Investment Corp. (K-Growth). Prior to this, it was also appointed as an external manager for the National Pension Service’s fund of funds called Special Situation and Distressed (SS&D) Fund. KB Securities PE’s Corporate Restructuring Fund will invest in domestic companies which are going through or have gone through restructuring.

In addition, KB Securities PE received an investment of more than 20 billion won ($18 million) from K-Growth through another fund-of-funds vehicle called Tech Credit Bureau (TCB) Fund V in July. With this anchor investment, KB Securities PE has recently closed its TCB Fund II – which was named after the fund-of-funds vehicle – with 50.8 billion won ($43.5 million) in capital commitments. This fund will invest 80 percent of its capital in companies with strong TCB ratings or monetization of intellectual property.

KB Securities PE also raised more than 40 billion won ($35 million) to invest in Singapore’s biosimilar company Prestige Biopharma. The amount is small, though the move is meaningful in that it was KB Securities PE’s first overseas investment.

KB Securities PE’s 240 billion-won ($205 million) secondary fund, which was formed in 2018 together with alternative investment firm Stonebridge Capital, also has plenty of dry powder. Electronic shelf label company SoluM was the first investment through the secondary fund. KB Securities PE plans to list the company on the domestic bourse next year, which could be an exit route. It also closed a fund at 65 billion won ($55 million) last year, together with Canadian asset manager Sprott. The fund invests in domestic solar power plants.

With enough dry powder on hand, KB Securities PE is expected to speed up its investment activity next year. KB Securities is one of the leading brokerage houses in the country, but its private equity business is still in its infancy. KB Securities PE is likely to focus on sourcing deals where it can invest in startups and small to mid-sized companies with growth potential, continuing to build up a track record.

(By reporter Kim Hye-ran)