This article was posted on the ChosunBiz MoneyMove (MM) site at 5:36 p.m. on March 6, 2026.
A consortium of STIC Alternative Asset Management and Korea Investment & Securities Co. private equity was selected as the preferred bidder to buy a minority stake in SK Group's Ulsan GPS·Multi Utility (MU), and the consortium's fundraising appears to be in its final stages.
On the 6th, investment banking industry sources said the STIC Alternative–Korea Investment & Securities Co. private equity consortium is obtaining letters of commitment (LOCs) from institutional investors to invest 800 billion won of the 1.6 trillion won as equity.
Of the total purchase price reported at 1.6 trillion won, 800 billion won will be financed through acquisition financing. Korea Investment & Securities Co.'s participation is certain, and Hana Securities is reportedly reviewing whether to join. If Hana Securities' participation is confirmed, the two securities firms will each take half of the financing.
Of the remaining 800 billion won excluding acquisition financing, 150 billion to 200 billion won will be raised as common stock. STIC Alternative and Korea Investment & Securities Co. private equity will each cover 50 billion won of the common stock. Korea Investment & Securities Co., joining as a lender in the acquisition financing, will contribute 10 billion won. In other words, 110 billion won of common stock has effectively already been secured. If Hana Securities joins the lender group, it will also contribute 10 billion won as common stock.
The 600 billion to 650 billion won excluding acquisition financing and common stock is being raised in the form of redeemable convertible preferred shares (RCPS). Industry sources familiar with the deal say there should be no disruption until funding is completed.
The consortium plans to submit LOCs soon and aims to sign the share purchase agreement (SPA) in April.