IMM PE eyes over $2 bil for new flagship fund IMM RoseGold V likely to become the largest fund in the Seoul-based firm’s history

Translated by Ryu Ho-joung 공개 2021-12-07 08:07:27

이 기사는 2021년 12월 07일 08:05 더벨 유료페이지에 표출된 기사입니다.

IMM Private Equity has launched its fifth flagship fund, IMM RoseGold V, with a target to raise more than 2.5 trillion won ($2.1 billion), the largest ever in the firm’s history.

The move follows the Seoul-based private equity firm’s 60 billion won investment in California-based robotics startup Bear Robotics and 1.45 trillion won acquisition of a controlling stake in Hanssem, a South Korean home furnishing company, in partnership with Lotte Shopping.

Once the two deals close, the firm’s fourth fund, RoseGold IV, will have invested more than 75% of the fund’s size, or roughly 1.46 trillion won, reaching its internally required threshold to launch a new blind pool fund.

IMM PE is said to be seeking to raise over 2.5 trillion won for the new fund, eclipsing its predecessors in size. The firm’s RoseGold funds have continued to grow in the past dozen years, with the first fund closing at 313 billion won in 2008, the second one at 756 billion won in 2012, the third one at 1.25 trillion won in 2016 and the fourth one at 1.9 trillion won in 2020.

IMM PE’s longstanding limited partners include the National Pension Service of South Korea, which invested in all four blind pool funds raised by the firm. The pension scheme’s 400 billion won commitment to RoseGold IV accounted for about a quarter of the fund’s total committed capital.

For the fifth fund, IMM PE plans to focus on raising capital from domestic institutional investors early next year, and then also raise funds internationally.

RoseGold IV invested in businesses from a range of industries, including Shinhan Financial Group, industrial gas producer Linde Korea, HanaTour, Kolmar Korea’s pharmaceutical business, online pet retailer Pet Friends, Hanssem and Bear Robotics.

RoseGold III’s notable portfolio companies include digital lender K Bank, online shopping platform W Concept Korea, Hyundai Samho Heavy Industries, iNtRON Biotechnology, Lezhin Entertainment and Tailim Packaging. The private equity firm made exits from some of those investments. (Reporting by Ha-na Suh)
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