Hahn & Company (Hahn&co), a private equity fund (PEF) operator, has attracted about 1 trillion won (US$749 billion) in institutional funds for its first domestic funding.
According to recent investment banking industry sources, Hahn & Company’s 4th blind fund, which has been in the collection phase since last year, has approached an agreement amount close to US$2.5 billion.
In the fund, existing foreign Limited Partners (LPs) have been joined by new LPs, including the Saudi Arabia Public Investment Fund (PIF) and Mubadala Investment Company from the Middle East, as well as Canadian pension funds. These alone have raised funds amounting to about 2 trillion won.
Hahn & Company was selected as the National Pension’s discretionary asset manager for the first time this year, receiving 250-300 billion won, thereby increasing its fund size. NH NongHyup Financial Holdings, KB Financial Group, Shinhan Financial Group, and other major banking financial holdings, as well as large securities firms like Korea Investment Securities, also participated in Hahn & Company’s blind fund.
Notably, Hahn & Company secured a commitment of approximately 400 billion won from major financial holdings alone. The investment size from securities firms is also at the level of 100 billion won.
Hahn & Company is also on the list of PEF discretionary asset managers being reviewed by various domestic institutions in the second half of the year. Given its outstanding performance, it is highly likely that Hahn & Company will dominate domestic funds.
Hahn & Company, aiming to form a blind fund of up to US$3.2 billion (about 4.24 trillion won), seems to have been given the green light for its plans.