Korea Growth Investment Corporation (K-Growth) plans to select five general partners (GPs) to commit about 501.5 billion won ($417 million) for its 2020 corporate restructuring fund. K-Growth will select three blind-pool private equity fund (PEF) managers and two blind-pool private debt fund (PDF) managers.
K-Growth will commit 200.6 billion won and 100.3 billion won each to the PEF and PDF managers and invest 200.6 billion won in the project fund from the 501.5 billion won fund of funds. Ten management companies have applied for the 2020 corporate restructuring fund GP position.
For the PEF sector, five companies have applied: Synergy IB Investment; Ever Best Partners/Hana Financial Investment Co Ltd; Pine Tree Partners; Korea Investment Private Equity/SG Private Equity and Fine Investment Co/KB Investment.
For the PDF sector, five companies have submitted proposals: Shinhan Alternative Investment Management/VC Investment; Eugene Asset Management; SKS Private Equity/Shinhan Investment Co; Pavilion Asset Management Co Ltd and Fine Investment Co.
PEF managers will freely propose the size of the investment asset from 50 billion to 100.6 billion won. The PDF management is a newly launched system. It is designed to meet various funding needs like short-term or small-scale funding. K-Growth hopes each of the PDF managers will invest 75.15 billion won. K-Growth will finalize the selection process by the end of next month. (Reporting by Heeyeon Han)