Dominus Achieves Success Across All Aspects of Funding, Investment, and Exit in 2024
- seoultribune
- 2월 2일
- 3분 분량
Dominus Investment ("Dominus") has further solidified its position in the private equity fund (PEF) industry by achieving outstanding results across funding, investment, and exit in 2024.
5th Blind Fund Raises KRW 730 Billion, Demonstrating Industry Trust
Dominus successfully completed the formation of its 5th blind fund this year, raising KRW 730 billion in approximately one year.
The fund successfully attracted capital commitments from major limited partners (LPs), including Korea’s five central cooperatives (National Credit Union Federation of Korea, Korea Post, Korea Federation of SMEs, National Federation of Saemaul Geumgo, etc.), seven major banks, and four financial holding companies. Notably, more than 80% of the investors from Dominus' previous blind funds re-committed, reflecting strong confidence in the firm.
Dominus operates a specialized mezzanine investment strategy utilizing convertible bonds (CB), bonds with warrants (BW), and redeemable convertible preferred shares (RCPS), effectively minimizing downside risks while maximizing upside returns. The firm has already demonstrated stable profitability, with internal rates of return (IRR) ranging between 13% and 15% in its 3rd and 4th blind funds.
KRW 1 Trillion Investment in Mirae Advanced Materials and Woojin Industrial Systems
Following its first closing this year, Dominus invested KRW 500 billion each in Mirae Advanced Materials and Woojin Industrial Systems, totaling KRW 1 trillion.
Mirae Advanced Materials raised capital for the funding and operational needs of its Canadian subsidiary, Mirae AMC. The company plans to establish an annual production capacity of 30,000 tons of lithium hydroxide by the second half of 2025 and aims to secure additional growth momentum through an IPO.
Woojin Industrial Systems, one of Korea’s top three railway vehicle manufacturers alongside Hyundai Rotem and Dawonsys, holds the largest market share in the domestic light and medium rail transit sector. With this investment, the company is looking to expand its overseas exports and is planning an IPO in 2026.
Micronesia Resorts Inc. Exit Yields 12.8% IRR
Dominus also achieved notable success in its exit strategy this year. The firm successfully exited its investment in Saipan-based hotel and resort operator Micronesia Resorts Inc., in which it had invested a total of KRW 1.3 trillion in 2018 and 2019. This exit delivered an IRR of 12.8%.
Although the company faced losses due to the downturn in the tourism industry during the COVID-19 pandemic, it swiftly returned to profitability as tourism demand rebounded. This success highlights Dominus' effective risk management and exit strategies, even in challenging market conditions.
Additionally, by strengthening its partnership with E-Land Group—following previous joint acquisitions of K-Swiss in 2013 and SUPRA in 2015—Dominus has increased the likelihood of further collaborations in the future.
Jung Do-hyun Establishes Himself as a Leading Investment Strategist
Dominus is led by CEO Jung Do-hyun, who graduated from Seoul Science High School and Seoul National University with a degree in physics before building a solid career in finance. His experience includes M&A advisory at Deutsche Bank New York, consulting at Bain & Company Korea, and private equity at Lone Star Advisors Korea. He later founded Dominus in 2011.
To date, he has executed approximately KRW 2.2 trillion in investments across 19 domestic and international companies, successfully exiting 11 of them. Jung is also expanding his influence in the finance and investment sectors, serving as a member of the Financial Development Advisory Committee under Korea’s Financial Services Commission and an investment advisory member for new energy businesses at Korea Electric Power Corporation.
Jung is also known as the son of former Grand National Party lawmaker Jung Hyung-geun.
Dominus Poised for Continued Growth
Dominus has demonstrated exceptional performance across funding, investment, and exit in 2024, further cementing its position as a leading mezzanine-focused PEF in Korea. Moving forward, the firm is expected to sustain its growth trajectory with a stable investment strategy and proactive market approach.
Seoul Tribune (c)
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