PEF Competition: Funding Competition is Heating Up | BusinessKorea

Friday, January 19, 2018

11 January 2016 - 1:30pm
Jung Suk-yee

According to investment banks, the Military Mutual Aid Association and the Employment Insurance Fund pick PEFs to run a fund of approximately 220 billion won in the middle of this month.

In the first pension fund investment project of this year, they assign 120 billion won and 100 billion won to six and three PEFs, respectively. The most likely candidates include IMM Investment, STIC Investment and SkyLake Investment, each of which has already passed the document screening.

At present, IMM Investment is raising funds for a PEF worth 200 billion won. The PEF’s main investment targets are expected to include mezzanine securities and infrastructure such as roads and ports. STIC Investment is reaching out to Korean pension funds and sovereign wealth funds in the Middle East to raise at least 500 billion won. The goal of SkyLake Investment, which excels in investment in relatively smaller companies, is 300 billion won.

The three investors’ rivals include the Daishin PE-SK Securities consortium and Hana Financial Investment. In September last year, each of the two was provided with 100 billion won for PEF formation by the Korea Development Bank. Under the circumstances, each of them has to raise a PEF of at least 200 billion won in the first half of this year.


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