Rhyme Asset Management Announces Plan to Liquidate 540.7 Billion KRW in Cash from Two Master Funds

[Asia Economy Reporter Park Jihwan] Lime Asset Management, which had suspended redemptions of private equity funds worth 1.6 trillion KRW, plans to implement sequential repayments for the Pluto FI D-1 Fund (Pluto) and the Thetis 2 Fund (Thetis) starting from the second quarter.

On the 13th, Lime Asset Management announced that the expected recovery amounts for Pluto and Thetis are 407.5 billion KRW and 133.2 billion KRW, respectively. Pluto is a fund that primarily invests in domestic private bonds. Thetis is a fund that invests in mezzanine securities (convertible bonds, bonds with repurchase conditions, etc.) of listed companies.

Earlier in February, Lime had estimated the redeemable amounts for Pluto and Thetis to be 468.6 billion KRW and 140.5 billion KRW, respectively. This represents a decrease of 68.4 billion KRW compared to the initial recovery amounts.

Lime Asset Management plans to start repayments from May. A representative from Lime stated, "We aim to implement repayments before mid-May, assuming the issue of unprocessed redemption amounts recognized as unpaid liabilities for Pluto and Thetis is resolved," adding, "It is expected that distributions will be made more than three times this year."

There is expected to be a discrepancy between the asset liquidation plan and the actual recovery amounts. Lime explained, "The expected recovery figures are estimates, so differences from actual results are inevitable," and added, "We plan to continuously update the asset liquidation plan each quarter and provide ongoing guidance regarding any differences between the plan and actual outcomes."

The current repayment plan does not include details regarding the trade finance fund Pluto TF-1 and the Credit Issuer (CI) fund.

This content was produced with the assistance of AI translation services.