IMM PE speeds up investment through fourth blind-pool fund RoseGold IV to spend 70% of committed capital within this year

Translated by Kim So-in 공개 2021-07-23 07:27:56

이 기사는 2021년 07월 23일 07:21 더벨 유료페이지에 표출된 기사입니다.

IMM Private Equity (IMM PE) has spent half the committed capital in its flagship blind-pool fund, RoseGold IV, which closed at 1.9 trillion won($1.65 billion) in 2019.

IMM PE’s RoseGold IV has spent 900 billion won so far in four investments, including Shinhan Financial Group, AirFirst, Hana Tour, and Korea Kolmar’s pharmaceutical business, according to sources on Wednesday.

The fund is the largest blind-pool fund that the PE firm has ever created, with around 30 domestic and foreign institutions participating as investors.

IMM PE injected 750 billion won into Shinhan Financial Group in February 2019 through the purchase of newly issued convertible preferred shares. IMM PE financed around 270 billion won through the RoseGold IV, with the remainder financed from its co-investment fund.

IMM PE acquired a 100% stake in AirFirst, formerly Linde Korea, for 1.4 trillion won in March 2019. It spent the remaining capital in the predecessor fund, RoseGold III, and financed about 300 billion won from the RoseGold IV for the PE firm’s first multi-trillion won deal.

In February 2020, the fund invested nearly 130 billion won in Hana Tour to become the largest shareholder of South Korea’s biggest travel agency with a market share of more than 20%.

IMM PE invested 490 billion won in Kolmar Pharma at the end of last year, of which 20 billion won was financed from the RoseGold IV.

The PE firm plans to finance acquisitions of Pet Friends and Hanssem through the RoseGold IV. About 100 billion won is expected to be spent on the Pet Friends acquisition while 300 billion won to 400 billion won is likely to be used for the Hanssem deal.

The fund is expected to spend more than 70% of its committed capital within this year and the entire capital around 2022. The fund has invested around 900 billion won, or around 50% of the total committed capital, as of now. (Reporting by Ha-na Suh)
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