Hahn & Co. raises W3.8 tril. for largest Korea-focused fund

Hahn & Company CEO Hahn Sang-won

By Park Jae-hyuk

Hahn & Company has raised 3.8 trillion won ($3.2 billion) for its third private equity fund, which has become the largest-ever capital pool dedicated to the Korean market, the homegrown private equity firm said Tuesday.

Thanks to the successful fundraising, Hahn & Company has been able to surpass 8.1 trillion won worth of assets under management within nine years of its foundation in 2010.

The amount is nine times larger than the size of the firm's first PEF which was raised with 870 billion won in 2011.

Hahn & Company attributed the rapid growth rate to its investment track record and strategies.

According to the company, investors in its first PEF have already earned more than their initial investments, and the return is expected to hit three times the invested amount.

The firm said its third PEF, comprised of a 3.2 trillion won flagship fund and a 600 billion won co-investment fund, will play an important role in the nation's M&A market.

"We are pleased to successfully complete this important and significant fundraising despite what is increasingly becoming more uncertain economic times," Hahn & Company CEO Hahn Sang-won said in a press release.

"Our investors share the strong conviction we have in the long-term prospects of Asia and of Korea. We look forward to devoting our energies to make important and responsible investments that consistently deliver high returns for our investors and further enhance the development of companies acquired for all constituents."

Portfolio companies that Hahn & Company controls include Hanon Systems, the world's second largest producer of thermal and energy management solutions; Ssangyong Cement, Korea's largest cement manufacturer; H-Line Shipping, Korea's leading dry bulk carrier; and SK Shipping, the nation's leading wet tanker carrier.

The firm said its portfolio companies collectively generate revenues worth approximately $10.9 billion with over 29,000 employees worldwide.

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