The first selection of general partners (GPs) for the indirect investment institutional sector of the Public Growth Fund promoted by the government has been completed. Skylake Equity Partners and Atinum Investment were selected as managers for the large-cap league with a scale of 1 trillion won, and a total of 11 managers will launch sub-funds.
Korea Development Bank and Shinhan Asset Management on the 27th announced the "results of the first selection of general partners for the 2026 Public Growth Fund indirect investment institutional sector."
For the largest "ecosystem-wide large-cap league," Skylake Equity Partners and Atinum Investment were selected. The two managers plan to create funds of 500 billion won each.
Well to Sea Investment was chosen as the manager for the mergers and acquisitions (M&A) league. Well to Sea Investment plans to establish a fund of about 300 billion won.
For the 200 billion won AI and semiconductor mid-cap league, Daishin Private Equity (Daishin PE) and InterVest were selected. The project mandate institutional sector manager will be Kiwoom Private Equity (Kiwoom PE). Kiwoom PE plans to manage a 240 billion won fund.
In the small-cap league (200 billion won), AJU IB INVESTMENT and Paratus Investment made the list. For the KOSDAQ league (150 billion won), a consortium of Mirae Asset Venture Investment and Brain Asset Management was selected.
Samho Green Investment and A-Stone Ventures were selected as managers in the challenge category. They plan to each create a 75 billion won fund to invest in early-stage and innovative corporations.
The Public Growth Fund is a large-scale policy investment fund promoted by the Lee Jae-myung administration. Aiming to foster advanced industries and support innovative corporations, it is to be created over the next five years with a total scale of 150 trillion won. The government's plan is to use this to expand the inflow of private capital into future strategic industries such as artificial intelligence (AI), semiconductors, biotech, and advanced manufacturing.
A feature of this first-round commitment program is that, beyond large buyout funds, managers were selected by subdividing the areas into venture investment, KOSDAQ revitalization, project investment, and more. The market expects the approach of using policy funds as a primer to draw private commitments will go into full swing.
Korea Development Bank also unveiled the plan for the second-round commitment program for the Public Growth Fund indirect investment institutional sector on the day. The target management scale for the second round is about 1.6 trillion won. Korea Development Bank plans to accept proposals until the 10th of next month, conduct evaluations, and select the final managers in July.