Optimus Fund Suspends Redemptions Again... Risk of 100 Billion Won Scale Loss

[Asia Economy Reporter Minji Lee] The suspension amount of redemptions for Optimus Asset Management's private equity funds has exceeded 100 billion won.

[Image source=Yonhap News]

According to the financial investment industry on the 25th, Optimus Asset Management sent an official letter to NH Investment & Securities, the distributor, requesting an extension of the maturity for Optimus Creator No. 27 and No. 28, which are due to mature on the 26th. The two funds with suspended redemptions amount to 22.5 billion won.

As a result, the total amount of funds with suspended redemptions has increased to the 90 billion won range, including the previously suspended No. 25, 26, 15, and 16 funds.

Considering that Optimus Asset Management requested three distributors?Cape Investment & Securities, Daishin Securities, and Hanwha Investment & Securities?to refrain from redeeming open-ended private equity funds totaling 27 billion won, the suspension amount of Optimus private equity fund redemptions has already exceeded 100 billion won.

As of the end of March, the fund's total assets under management stood at 535.5 billion won, and the industry expects that most of the funds will suspend redemptions as their maturities approach.

Meanwhile, prosecutors conducted a prior search regarding suspicions that Optimus Asset Management raised thousands of billions of won from investors by claiming to invest in public institution accounts receivable but actually invested in loan companies and insolvent firms by forging documents. Additionally, travel bans were imposed on the company's CEO Kim, fund management director Song, and Yoon, the representative and director of H Law Firm.

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