KB Kookmin Arranges 300 Billion KRW Fund Financing for IMM Blind Fund

KB Kookmin Bank announced on the 14th that it has completed the arrangement of a 300 billion KRW subscription line facility (fund financing) for the blind fund ‘IMM Rose Gold 5 Private Equity Investment Partnership’ (RG5), established and managed by IMM Private Equity (IMM PE).

‘Fund financing’ is a common type of loan in overseas alternative investment markets, but in Korea, it has been difficult to handle due to loan restrictions on private equity funds (PEFs) under the Capital Markets Act. This transaction is the first case of fund financing for a blind fund in Korea since the revision of the Capital Markets Act in 2021.

KB Kookmin Bank led this fund financing by highly evaluating ▲ IMM PE’s excellent management capabilities and track record ▲ the strong creditworthiness and capital contribution capacity of RG5’s investors, which include leading domestic pension funds and financial institutions ▲ and the pioneering of new business areas in the domestic alternative investment market.

Kang Soon-bae, Head of the CIB Sales Group, said, "We are very pleased to have successfully arranged the first fund financing in Korea despite the challenges posed by the rapidly changing financial environment. Going forward, KB Kookmin Bank will fully leverage its CIB capabilities to lead the revitalization of the alternative investment market and continuously discover new business opportunities."

Meanwhile, KB Kookmin Bank completed the refinancing arrangement last year for the acquisition financing of Momentive, a U.S. silicon manufacturing company, amounting to 839 million USD (approximately 1.09 trillion KRW).

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