(Courtesy of Taihan Electric Wire Co.)
The $5.4 billion fund has completed five divestitures over the past six months, estimated to have produced a combined 1 trillion won in proceeds, including both the investment principal and capital gains.
The firm's aggressive divestments were in contrast to other private equity firms in Korea, which have opted to sit back until their portfolio companies achieve higher valuations with the receding of the pandemic.
IMM PE was founded in 2006 by Chief Executive I.J. Song, an accountant. It focuses on Korea and Korea-related investment opportunities, with 30 investment professionals
TAIHAN ELECTRIC WIRE
The exit deal for Taihan Electric Wire Co. highlighted IMM PE's turnaround strategy. IMM PE took over a 71.51% stake in the country's No. 2 electric wire manufacturer for around 300 billion won in 2015. The company's reckless business diversification had aggravated its financial conditions, landing in the hands of creditor banks.