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South Korean firm IMM Private Equity closed
its latest fund, IMM RoseGold PEF III, at 1.25 trillion won ($1.15 billion;
€995 million) this week, Private Equity
According to PEI
data, the amount of capital raised by South Korean fund managers has declined
in recent years, notably between 2013 and 2014, when fundraising halved.
With two months to go before the end of 2016, fundraising is
yet to meet last year’s total and the number of funds is also down. Three of
the six vehicles to have closed this year amassed less than $70 million each, including
STIC Global Investment Private Equity Fund and 2015
KIF-Premier IT Fund (Premier Venture III) which closed on $66 million and $35 million,
However, looking ahead, vehicles in
market managed by South Korean firms suggest an upwards shift in fundraising by
local managers. The two largest vehicles – Multi Asset Global Investment’s
Growth Ladder fund and MBK Partners’ recently launched fourth fund – are
seeking $5.2 billion and $4 billion, respectively.
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