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Shinhan BNP Paribas closes W690b private debt fund
By Son Ji-hyoungPublished : Aug. 27, 2020 - 14:57
Shinhan BNP Paribas Asset Management said Thursday it has raised a total of 690 billion won ($582 million) commitment to close its latest private debt fund, designed to offer nonbank loans to support mergers and acquisitions activities.
Backers of the fund include its affiliates Shinhan Bank and Shinhan Life Insurance, under the umbrella of the nation’s largest Shinhan Financial Group.
The Seoul-based asset management house’s new blind pool fund will extend loans to an acquirer by collateralizing a target company’s equities. To do so, the fund will invest in senior debt securities in its risk-averse strategy.
The fund marks the fourth of its kind, alongside three such funds with a combined commitment at 1.54 trillion won. Shinhan BNP Paribas’ first fund outperformed its initial goal since its creation in 2014 and was liquidated earlier this year, according to the company.
Shinhan BNP Paribas is a 65:35 joint venture between Shinhan Financial Group and Paris-based BNP Paribas Asset Management. The manager was overseeing over 58 trillion won assets, the fifth-largest in the nation.
By Son Ji-hyoung (consnow@heraldcorp.com)
Backers of the fund include its affiliates Shinhan Bank and Shinhan Life Insurance, under the umbrella of the nation’s largest Shinhan Financial Group.
The Seoul-based asset management house’s new blind pool fund will extend loans to an acquirer by collateralizing a target company’s equities. To do so, the fund will invest in senior debt securities in its risk-averse strategy.
The fund marks the fourth of its kind, alongside three such funds with a combined commitment at 1.54 trillion won. Shinhan BNP Paribas’ first fund outperformed its initial goal since its creation in 2014 and was liquidated earlier this year, according to the company.
Shinhan BNP Paribas is a 65:35 joint venture between Shinhan Financial Group and Paris-based BNP Paribas Asset Management. The manager was overseeing over 58 trillion won assets, the fifth-largest in the nation.
By Son Ji-hyoung (consnow@heraldcorp.com)
