<article>South Korea’s IMM Private Equity has raised around $1.3 billion so far for its fourth fund, IMM Rosegold IV, DealStreetAsia has learnt.</article>

South Korea’s IMM Private Equity has raised around $1.3 billion so far for its fourth fund, IMM Rosegold IV, DealStreetAsia has learnt.
The fund, which was launched in December 2018, is targeting to raise around $1.5 billion with a hard cap of $1.8 billion. The fundraising is ongoing and will be closed in early 2020.
DealStreetAsia has reached out to IMM PE for comment.
IMM PE had raised $800 million for IMM Rosegold IV by February, according to a Private Equity International report. The firm is expected to largely tap South Korean LPs and raise around $500 million from international LPs for its latest fund, the report said.
With its fourth fund, IMM PE will continue to back mid-to-large cap companies in South Korea. Established in 2006, the private equity firm has $4.9 billion in assets under management and 16 existing portfolio companies, according to its website.
The firm had raised $1.16 billion for its third flagship fund, IMM Rosegold III, in 2015-16. Limited partners in its third fund include South Korea’s National Pension Service, Hyundai Marine &amp; Fire Insurance, IBK Insurance and Public Officials Benefit Association.
IMM PE is also looking to exit from some of its portfolio investments, an industry executive said.
Last week, the private equity was reported to have sold its stake in Tailim Packaging Group to South Korean clothing manufacturer Sae-A Trading for 700 billion won ($583 million). IMM PE acquired 58.85 per cent of Tailim Packaging and 34.54 per cent of Tailim Paper, two Tailim subsidiaries, for 350 billion won in July 2015.
IMM PE is also reported to be eyeing an exit from Hollys F&amp;B which was acquired in July 2013 through IMM Rosegold II fund. Hollys F&amp;B is the South Korean homegrown coffee shop franchise with more than 500 stores in South Korea, China and Southeast Asia.
IMM PE acquired a controlling stake in Hollys F&amp;B for 45 billion won and had planned to exit its investment in 2016 but a deal failed to materialise. The coffee shop chain is expected to be sold at 200 billion won in this round, according to a report by The Korea Times.

The fund, which was launched in December 2018, is targeting to raise around $1.5 billion with a hard cap of $1.8 billion.

South Korea’s IMM PE collects $1.3b for fourth fund

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South Korea’s IMM PE collects $1.3b for fourth fund

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