This article was published on July 4, 2025, at 2:34 p.m. on the ChosunBiz MoneyMove site.
Private equity fund (PEF) operator IMM Investment has completed the first closing of its newly created 10th infrastructure fund. The plan is to finalize the closing in the second half of next year, with a scale of 1 trillion to 1.5 trillion won.
According to the investment banking (IB) industry on the 4th, IMM Investment recently completed the first closing of its 10th infrastructure fund, exceeding 300 billion won. The final closing target is up to 1.5 trillion won, which is the largest level among domestic infrastructure and energy blind funds. This is more than double the previous 9th fund (680 billion won).
Key investors in IMM Investment's 10th infrastructure fund include public funds such as the Government Employees Pension Service, Shinhan Bank, and major fire insurance companies. Shinhan Bank is reported to have invested a similar amount in this 10th fund, following its 100 billion won investment in the 9th fund.
The infrastructure fund is a blind fund managed by the Infrastructure Investment Division of IMM Investment, led by Vice President Kim Byung-hun. Since forming the first infrastructure fund in 2013, it has achieved stable results through numerous infrastructure investments, including EcoManagement Korea (EMK).
IMM Investment has highlighted the expansion of digital infrastructure investment as a differentiating factor for its 10th infrastructure fund. Digital infrastructure refers to the facilities and resources necessary for digital technologies to operate and develop, including software elements.
Immediate investment targets are expected to include data centers, cloud services, high-speed internet networks (5G, optical fiber), and high-performance computing (HPC) facilities. With the rapid advancement of AI, the establishment of digital infrastructure is becoming increasingly crucial as it directly relates to the competitiveness of both nations and corporations.
The number of target corporations will also increase. Companies that manufacture digital communication infrastructure materials, such as optical fibers, may be candidates for investment. Cloud ERP and IDC operators, as well as cybersecurity-related corporations, are also reported to be potential investment targets.
Meanwhile, Ecorbit has already been selected as the first investment target for the 10th infrastructure fund. Last year, IMM Investment partnered with private equity operator IMM Private Equity (PE) to acquire the waste management company Ecorbit for 2.7 trillion won. Some of the loans used for the acquisition are set to be converted into equity investments.