This article was published on May 15, 2026, at 17:29 on Signal, the capital markets compass.
The shortlist of fund managers (GPs) that passed the document screening for the National Growth Fund's indirect investment commitment program has been finalized. Twice the number of final selections advanced to the shortlist across leagues divided into small and large fund manager categories. Korea Development Bank (KDB) and Shinhan Asset Management, the program's lead organizers, plan to raise an investment fund worth 3.9 trillion won through this commitment program.
According to the investment banking (IB) industry on the 15th, KDB and Shinhan Asset Management finalized and announced the shortlist for the first commitment program of the National Growth Fund on the same day. KDB and Shinhan Asset Management issued the commitment notice last month and received applications. Fund managers that made the shortlist after the document screening will go through on-site due diligence and oral examinations, with final commitment selections to be announced at the end of the month.
In the large league, which aims to form sub-funds worth 1 trillion won each, Dominus Equity Partners, Skylake Equity Partners, Atinum Investment, and Korea Investment Partners secured tickets to the final round. The shortlist for the small league, which targets a fund size of 200 billion won, includes Deoham Partners, Aju IB Investment, SBI Investment, and Paratus Investment. In the mergers and acquisitions (M&A) league, where one fund manager will be selected, Well to Sea Investment and KL & Partners passed the document screening and will compete for the final selection.
In the KOSDAQ league, the consortium of KB Investment and IMM Credit & Solutions (ICS) and the consortium of Mirae Asset Venture Investment and Brain Asset Management made the shortlist. In the AI and semiconductor league, which targets a fund size of 400 billion won, Daishin Private Equity, Woori Private Equity Asset Management, Intervest, and Forest Ventures passed the document screening. The shortlist for the project (commitment) league, which selects a single fund manager, was set as Mirae Asset Global Investments and Kiwoom Private Equity.
KDB and Shinhan Asset Management plan to raise an investment fund worth 3.9 trillion won through this commitment program. The policy capital contributed by the government and KDB amounts to 1.385 trillion won.
