IMM PE's 2.6 Trillion KRW 5th Fund Fundraising Progressing Smoothly... What Is the Next Investment Target?

[Asia Economy Reporter Park So-yeon] IMM Private Equity (PE) is making steady progress, having raised 500 billion KRW in just two months since launching the 2.6 trillion KRW blind fund Rosegold 5.

According to the investment banking (IB) industry on the 18th, IMM PE plans to complete the first closing of Rosegold 5 by raising 1 trillion KRW by next month on the 5th. It aims to finalize the fund size at 2.6 trillion KRW by next summer.

While focusing on raising the fund, IMM PE intends to adjust investment targets and timing considering market conditions. An IB industry insider said, "Although the capital market is currently contracting, 490 billion KRW has been raised from eight institutions in two months," adding, "Investment timing will be adjusted according to market sentiment."

Founded in 2006, IMM PE raises large-scale funds every 3 to 4 years. The 1st fund was 310 billion KRW (2008), the 2nd fund 760 billion KRW (2011), the 3rd fund 1.26 trillion KRW (2015), and the 4th fund 1.9 trillion KRW (2019).

Rosegold 5 is an ultra-large blind fund with a scale significantly larger than previous funds, drawing attention to its investment targets. It is expected to actively capture merger and acquisition (M&A) opportunities arising from industrial restructuring due to rapid global economic changes, as well as growth industries such as artificial intelligence and biotechnology. So far, IMM PE has mainly invested in leading companies across various sectors.

IMM PE, ranked third domestically by committed capital, has conducted large-scale buyouts over the past 2 to 3 years. Portfolio companies invested during this period include cosmetics manufacturer and distributor Able C&C, Korea’s top travel agency Hana Tour, and Korea’s leading furniture and interior company Hanssem. Additionally, it holds stakes in financial institutions such as Woori Financial Group (5.57%), Shinhan Financial Group (3.7%), and K Bank (2.68%).

IMM PE has also invested in high-growth sectors such as Pet Friends and Bear Robotics. Through IMM Credit Solution (ICS), a private credit fund specialist organization, it acquired a 40% stake in SK Lubricants, conducting a pre-IPO investment. IMM ICS has also consecutively invested in secondary battery companies like L&F and Daewoo Electronic Materials. Its exit performance has been consistent, successfully selling W Concept and Daehan Electric Wire to Shinsegae Group and Hoban Industries last year.