STIC Investments’ latest fund, the Special Situations Fund II, is speeding up investments with the private equity firm earlier this month signing a deal to buy South Korean weight loss company Juvis.

The Seoul-headquartered firm will acquire 100% of Juvis for roughly 250 billion won ($210 million). About 100 billion won will be financed through its second special situations fund, with the remainder likely being funded by loans, according to sources.

Juvis is the fourth investment of the fund, which closed this summer with 1.22 trillion won of committed capital from many large institutional investors. The Juvis deal came only a few weeks after STIC invested $200 million in Southeast Asia’s ride-hailing company Grab that was partially financed from the same fund.

The fund’s other two investments include parking services company Hi Parking Co Ltd and electronic materials supplier ILJIN Materials Co Ltd, in which the fund invested 100 billion won and 250 billion won respectively. For the ILJIN Materials deal, more money is to be injected into the company from the fund as the investment is made in two phases.

When taking account of all these investments, the fund appears to have utilized approximately 65% of committed capital. STIC earlier this year also joined other bidders to buy Korea Environment Technology Co Ltd, although the waste management company ended up being sold to a consortium led by E&F Private Equity. If STIC had been successful in buying the company, the acquisition would also have been partially financed from the fund.

The fund eclipsed its predecessor in size, which raised 603.2 billion won in 2016. It took the first special situations fund only two and a half years to utilize 95% of committed capital. (Reporting by Hye-ran Kim)