IMM Investment and Dominus Investment were selected as the final candidates for overseas private investment delegated managers of the sovereign wealth funds Korea Investment Corporation (KIC).
According to the investment banking (IB) industry on the 25th, KIC recently picked IMM Investment and Dominus as delegated managers for alternative investments. After the Investment Review Committee, the results will be notified to both firms soon, reports said.
Earlier this month, KIC went through a presentation (PT) process to select alternative managers for a domestic private equity fund (PEF) commitment program. Four firms, including IMM Investment and Dominus Investment, IMM Credit & Solution (ICS), and Affirma Capital, passed the document screening and joined the PT.
This is KIC's first direct commitment to a domestic manager. The commitment amount is about $200 million (about 300 billion won) per firm.