LB Investment Pushes for Formation of Over 200 Billion Won Secondary Fund

LB Investment is accelerating the formation of its third secondary fund, aiming for a scale of over 200 billion won, having secured investment funds from the General Assembly Pension Foundation and the Private School Pension. The General Assembly Pension Foundation has selected three alternative investment management companies for the second half of 2026, with LB Investment and IMM Investment being chosen as the management companies. LB Investment is expected to receive up to 20 billion won in investment from the General Assembly Pension Foundation, which will be used to establish the new secondary fund. LB Investment has also been selected as a mid-sized management company for the '2026 Recovery Market Support Secondary Fund' by the Industrial Bank of Korea and has secured an additional 20 billion won as a blind fund management company for the Private School Pension. A secondary fund is a fund that purchases unlisted stocks or fund shares held by existing shareholders or investors, providing an intermediate exit route for existing investors. LB Investment previously established the 'LB Innovation Growth Fund' with a scale of 124.5 billion won in 2019 and the 'LB Innovation Growth Fund II' with a scale of 280.3 billion won in 2022. The third fund will be led by Executive Director Oh Seung-yoon as the representative fund manager. The new fund is expected to continue the hybrid management strategy of the existing funds 1 and 2.

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