Hahn & Company raises $3.2 bln fund mainly from foreign investors

By Lim Chang-won Posted : October 1, 2019, 12:54 Updated : October 1, 2019, 20:34

[Gettyimages Bank]

SEOUL -- Hahn & Co., a private equity investment firm specializing in buyouts and corporate restructurings in South Korea, has created a blind fund of $3.2 billion mainly from foreign investors, reflecting a track record of successful investments and good returns.

Hahn & Co. said Tuesday that it has reached a final close on its third flagship fund at $2.7 billion, and has further raised a companion $500 million co-investment fund to invest alongside its flagship fund.

Hahn & Co., established in 2010, has now raised more than $6.7 billion to make investments in South Korea. A blind pool is a direct participation program or limited partnership that lacks a stated investment goal for funds raised from investors. They are usually managed by a general partner who has broad discretion to make investments.

"We are pleased to successfully complete this important and significant fundraise despite what are increasingly becoming more uncertain economic times," Hahn & Co. CEO Scott Sang-Won Hahn said in a statement.

"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," said Hahn.

Hahn & Co. has seen rapid growth through a differentiated investment strategy to become one of the fastest-growing independent private equity firms in North Asia and one of South Korea's largest and most active private equity investors.

Companies controlled by Hahn & Co. generate revenues of about $10.9 billion. Hahn & Co.'s portfolio companies include Hanon Systems, South Korea’s largest independent auto parts manufacturer and the world’s second-largest producer of thermal and energy management solutions, Ssangyong Cement, the largest cement manufacturer in South Korea, as well as H-Line Shipping and SK Shipping, South Korea’s leading dry bulk and wet tanker carriers, respectively.
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