Shinhan Asset Management announced Tuesday the results of the manager selection process for the Challenge and Small leagues of the National Growth Fund, conducted jointly with the Korea Development Bank.
Shinhan Asset Management will serve as the delegated manager for both the Challenge League, which supports new and small asset managers in entering the market, and the Small League. The Challenge League will be built on a 75 billion won mother fund contribution, targeting a total fund size of 150 billion won. The Small League will draw on a 100 billion won contribution to reach a total of 200 billion won.
In the first round of investment screening, which closed in April, Samho Green Investment and Astone Ventures were selected for the Challenge League, while AJU IB Investment and Paratus Investment were chosen for the Small League. The selected managers plan to recruit private investors on the basis of the mother fund contributions and complete the formation of their sub-funds within the year.
As the National Growth Fund begins deploying capital in earnest, the move is expected to benefit growth-stage companies listed on Kosdaq.
hajun825@heraldcorp.com
