이 기사는 2020년 06월 15일 08:00 thebell 에 표출된 기사입니다.

United Asset Management Company (UAMCO) will create a blind-pool fund in the second half of this year in a bid to preemptively secure money amid a growing number companies on the verge of restructuring.

UACMCO is preparing to launch a 200 billion won ($166 million) blind-pool fund to support companies which undergo restructuring programs, according to sources on June 11. The non-performing asset investment firm is running a marketing campaign towards limited partners with some financial firms pledging to commit to the fund. The size of the fund is likely to increase based on the funding results.

UAMCO has started to raise funds with the firm making major organizational changes to its investment division. UAMCO has reorganized its corporate restructuring (CR) investment division and CR management division into CR1 division and CR2 division. Previously, the CR investment division was responsible for new investments while the CR management division handled managing existing portfolio companies. The latest restructuring will allow the two new divisions to direct all processes ranging from investment, management to exit.

The CR1 division led by Kim Doo-il is carrying out active investments. A 100 billion won corporate restructuring fund, which was created jointly with Keystone Private Equity, has spent almost half its committed capital in less than one year since its launch. The fund has invested seven billion won in Woori Industry, 13 billion won in Staco and 27.7 billion won in TCT. The fund plans to spend the remaining capital in the near term.

The corporate restructuring fund has recently acquired POSCO Plantec for 60 billion won. The company has finished its workout program on June 10.

The CR2 division led by Kim Won-ki is focusing on managing and selling portfolio companies along with launching a new blind-pool fund. The division has successfully sold South Korean industrial paper Seha in the first half of this year, paving the way for the latest fundraising.

The launch of the new blind-pool fund is likely to accelerate its investment in distressed companies that are on the verge of restructuring, highlighting UAMCO’s growing role in the corporate restructuring space.

(Reporting by Se-hun Jo)