Key Takeaways
- • IMM Investment Corp., a South Korean alternative investment firm managing $4 billion in assets, is launching a 1 trillion won ($900 million) infrastructure fund targeting environmental and waste management, renewable energy, and logistics facilities.
- • The fund will close an interim tranche in September 2021, with final close scheduled for Q2 2022, drawing 700 billion won from domestic investors and 300 billion won from international sources.
- • Hyun Chan Cho, IMM's co-CIO and former International Finance Corp. Asia infrastructure director with nearly 20 years at the World Bank Group, will lead the new fund using a core-plus and value-add investment strategy.
- • IMM Investment, established in 1999, positions this infrastructure fund as a key growth vehicle within its multi-asset alternative investment platform spanning venture capital, growth equity, and infrastructure sectors.
Summary
IMM Investment Corp. is moving forward with a significant infrastructure fund launch targeting $900 million in total capital commitments. The South Korean alternative investment firm, which currently manages $4 billion in assets across multiple strategies, plans to raise 1 trillion won with capital sourcing split between domestic and international investors—700 billion won from Korean sources and 300 billion won from abroad. The fund will operate under a blind pool structure with an interim close targeted for September 2021 and a final close expected in the second quarter of 2022.
The new fund will concentrate investment activity across three core sectors: environmental and waste management, renewable energy, and logistics facilities. IMM's investment approach will balance core-plus assets with value-add strategies, positioning the fund for both stabilized returns and appreciation potential across its portfolio. This sector focus aligns with IMM's existing infrastructure expertise and responds to growing institutional demand for sustainable and essential infrastructure assets in Asia.
Leadership of the fund will rest with Hyun Chan Cho, IMM's co-CIO, who brings substantial experience from his tenure at the International Finance Corporation (IFC), a member of the World Bank Group. Cho served as director of the IFC's Asia infrastructure and resources division for nearly two decades before joining IMM in late 2019. His background in multilateral development finance and regional infrastructure investments positions him to source and structure deals across the fund's target sectors.
IMM Investment itself has established credibility as one of Asia's leading independent alternative investment managers since its 1999 founding. Beyond this infrastructure initiative, the firm operates across venture capital and growth equity strategies, serving institutional investor bases throughout the region. The $900 million infrastructure fund represents a material capital deployment reflecting institutional appetite for infrastructure exposure in emerging Asian markets.
The new fund will concentrate investment activity across three core sectors: environmental and waste management, renewable energy, and logistics facilities. IMM's investment approach will balance core-plus assets with value-add strategies, positioning the fund for both stabilized returns and appreciation potential across its portfolio. This sector focus aligns with IMM's existing infrastructure expertise and responds to growing institutional demand for sustainable and essential infrastructure assets in Asia.
Leadership of the fund will rest with Hyun Chan Cho, IMM's co-CIO, who brings substantial experience from his tenure at the International Finance Corporation (IFC), a member of the World Bank Group. Cho served as director of the IFC's Asia infrastructure and resources division for nearly two decades before joining IMM in late 2019. His background in multilateral development finance and regional infrastructure investments positions him to source and structure deals across the fund's target sectors.
IMM Investment itself has established credibility as one of Asia's leading independent alternative investment managers since its 1999 founding. Beyond this infrastructure initiative, the firm operates across venture capital and growth equity strategies, serving institutional investor bases throughout the region. The $900 million infrastructure fund represents a material capital deployment reflecting institutional appetite for infrastructure exposure in emerging Asian markets.
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