이 기사는 2022년 04월 05일 08:06 thebell 에 표출된 기사입니다.

Macquarie Group is preparing to launch its sixth South Korean infrastructure fund as the fifth one has already committed almost all of the fund’s capital, according to industry sources.

The new fund, Macquarie Korea Opportunities Fund (MKOF) VI, targets to raise up to 1 trillion won ($823 million), with Macquarie’s fundraising expected to start in the first half and hold a first close by the end of the year.

Its predecessor, MKOF V, closed with commitments of 720 billion won last year, surpassing the initial target of 650 billion won thanks to strong interest from investors including the National Pension Service (NPS), the country’s biggest institutional investor with more than 914 trillion won in assets under management. NPS added Macquarie to its list of top general partners.

The new fund will continue to focus on the energy and infrastructure sectors. Since the launch of its first South Korean fund in 2005, Macquarie has expanded its footprint in the country as an investment specialist for those areas.

MKOF V already committed much of its capital into several deals when it held the final close in the second half of last year. Its investments included a minority stake in LG CNS, S&I Corporation’s facility management business and the country’s biggest hydrogen producer Deokyang.

MKOF III, which closed at 745 billion won in 2014, invested in several waste management companies, including Clenco, Koentec and Saehan Environment. The latter two were sold to a consortium of IS Dongseo and E&F Private Equity at a high price in 2020.

MKOF II, the 2010-vintage fund, also mainly invested in waste management companies and produced an internal rate of return of 14.5%. (Reporting by Byung-keun Kam)