Industrial gas firm's valuation triples on semiconductor boom, drawing global investors
Friday, October 30, 2026 · first reported by 헤럴드경제
IMM Private Equity is raising a continuation fund to take over about a 66 percent stake in industrial gas maker Air First from its blind funds Rose Gold No. 3 and No. 4. Enterprise value is set at about 4.2 trillion won. BlackRock's roughly 30 percent stake is excluded, leaving a deal of around 3 trillion won. With over 1 trillion won of acquisition financing deducted, about 1.8 trillion won of equity must be raised.
GIC and several global secondary managers have signaled commitments of roughly 300 billion to 500 billion won each, and domestic pensions and mutual aid associations are indicating about 1.5 trillion to 1.7 trillion won. Final closing is planned before year-end.
- Also named
- Air First
- Fund
- Air First continuation fund
- Size
- $1.2B
- Stage
- Target
- Asset class
- Secondaries, Private equity
- Geography
- Asia-Pacific
The summary and fields above are extracted from the published reports and can contain errors. The linked articles are the source of record.
Coverage
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