IMM Investment and Dominus Investment Selected for KIC's First Domestic Commitment

$200 Million Committed Per Manager
Boosting Competitiveness in Attracting Overseas Investors

Korea Investment Corporation (KIC) has selected IMM Investment and Dominus Investment as the first domestic alternative investment managers to receive direct capital commitments.

According to the investment banking industry on November 26, KIC has designated IMM Investment and Dominus Investment as its alternative investment managers. IMM Credit and Affirma Capital also competed until the final stage but were ultimately not selected.

KIC plans to notify the selected managers of the results soon, following the final investment review committee. Each of the two selected managers is expected to receive a capital commitment of 200 million dollars (approximately 300 billion won). These managers will use the funds to support investments that help domestic companies expand overseas or grow their local operations.

This marks the first time that KIC is making direct capital commitments to domestic managers. The scale of the commitment even surpasses that of the National Pension Service, drawing significant attention from asset managers. As a sovereign wealth fund, KIC has so far maintained an indirect investment approach, entrusting overseas managers to invest in global assets. Due to regulations requiring investments only in foreign currency-denominated assets, it was previously difficult for KIC to invest directly in domestic companies.

The industry views KIC's first direct commitment as a potential turning point for the market. Considering that the National Pension Service typically commits between 100 billion and 150 billion won per manager, KIC is set to become a major player in the domestic private equity industry. Furthermore, KIC's investment record will enhance the competitiveness of domestic managers in attracting overseas limited partners (LPs). This will make it easier for domestic private equity firms and companies to expand abroad.