Saudi Arabia’s PIF and Mubadala Invest $2.5bn in Hahn & Company’s 4th Blind Fund

Hahn & Company, a private equity fund operator, has attracted about 1 trillion won ($749 bn) 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 $2.5bn.

In the fund, existing foreign Limited Partners  have been joined by new LPs, including the Saudi Arabia Public Investment Fund  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 250-300bn 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.

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Notably, Hahn & Company secured a commitment of approximately 400bn won from major financial holdings alone. The investment size from securities firms is also at the level of 100bn 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 $3.2bn (about 4.24 trillion won), seems to have been given the green light for its plans.

Source: Business Korea

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