Korean's institutional majors to place $1bn in Goldman Sachs mez fund
이 글자크기로 변경됩니다.
(예시) 가장 빠른 뉴스가 있고 다양한 정보, 쌍방향 소통이 숨쉬는 다음뉴스를 만나보세요. 다음뉴스는 국내외 주요이슈와 실시간 속보, 문화생활 및 다양한 분야의 뉴스를 입체적으로 전달하고 있습니다.
Sovereign wealth fund Korea Investment Corp. (KIC) and Korea Teachers’ Credit Union are joining the West Street Mezzanine Partners VIII, the eighth hybrid investment vehicle managed by the New York-based investment major, with $200 million each. National Pension Service(NPS) is mulling similar sum. Private institutions Hanwha Life Insurance and Kyobo Life Insurance are said to be considering $300 to $400 million.
While NPS and KIC will directly put their money into the fund, other institutions will place theirs through Hanwha Asset Management.
West Street Mezzanine Partners VIII targets return of over 10 percent, investing in mixed securities of solid companies with annual EBITDA (earnings before interest, taxes, depreciation, and amortization) of minimum $100 million.
Predecessors delivered handsome returns, with West Street Mezzanine Partner VI and VII both recording an average net internal rate of return of over 11 percent. Both had no loss rate.
Korean institutional investors are placing bulky assets in the fund as the multinational asset management has a proven reliable track record in managing mezzanine funds.
Big institutions are having trouble meeting their investment return target due to stock market routs around the world and subdued leveraged buyout market amid rising interest rates.
Market experts anticipate fast growth in investors’ demand for mid-return and mid-risk mezzanine funds at home and abroad.
[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]
Copyright © 매일경제 & mk.co.kr. 무단 전재, 재배포 및 AI학습 이용 금지
- GMTCK CEO Roberto Rempel appointed as GM Korea’s new CEO - Pulse by Maeil Business News Korea
- Lionheart, creator behind Kakao Games’ hit Odin, finds valuation around $3 bn - Pulse by Maeil Business News Korea
- Samsung and Hyundai to indulge Biden with next-gen chip facility and investment plan - Pulse by Maeil Business News Korea
- TYM to add tractor factory in Georgia, US to up annual capacity to 50,000 units - Pulse by Maeil Business News Korea
- Hyundai Motor to seek govt certification for research hub for future productivity and mobility - Pulse by Maeil Business News Ko
- 강경준, 상간남 피소…사랑꾼 이미지 타격 [MK픽] - 스타투데이
- 들썩이는 노량진뉴타운…최대어는 어디?
- 하이브 “法 판단 존중…민희진 해임건 찬성 의결권 행사 않을 것”(전문)[공식입장] - MK스포츠
- 이찬원, 이태원 참사에 "노래 못해요" 했다가 봉변 당했다 - 스타투데이
- 양희은·양희경 자매, 오늘(4일) 모친상 - 스타투데이