Korea Development Bank, Recruiting Private Fund Managers for 'New Deal Fund'

Private Operators Manage Parent Fund... Lead Creation of 800 Billion Won New Deal Fund

[Asia Economy Reporter Bu Aeri] The Korea Development Bank (KDB), together with KDB Growth Finance, announced on the 28th plans to select asset management companies to lead the policy-type New Deal Fund.

Private asset management companies will utilize 150 billion KRW in public funds to raise funds worth 800 billion KRW, which accounts for 20% of this year's New Deal Fund target of 4 trillion KRW. Of the 4 trillion KRW, KDB will manage 2 trillion KRW, Growth Finance 1.2 trillion KRW, and private asset managers 800 billion KRW.

Private asset management companies will be responsible for detailed fund formation plans, selecting sub-fund managers, and managing investment status for each fund.

A KDB official stated, "By involving private asset managers as lead institutions for the New Deal Fund, we expect to introduce a competitive system, enhance creativity, and thereby improve the efficiency and broaden the spectrum of New Deal Fund operations."

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