Dechert Advises IMM Investment Global on the Successful Launch of Its Second Global Renewables Fund
Dechert has advised IMM Investment Global (“IMMG”), a leading Korean alternative asset manager, on the formation of its IMM Global Renewables Fund II using the Hong Kong limited partnership fund (LPF) structure. For this transaction, IMMG fundraised from its broad Asian investor base, which allowed IMMG to invest in Peregrine Energy Solutions LLC ("Peregrine"), a newly established integrated and multi-technology clean energy platform with a focus on utility scale energy storage.
This second Global Renewables Fund continues IMMG's focus on supporting the transition to clean energy, and marking it as its first investment in greenfield battery energy storage systems (BESS) globally.
Formed in 2019, IMMG is the overseas investment arm of IMM Investment Corp. ("IMM") which has US$6 billion assets under management. IMMG has been implementing the group's sector-agnostic global investment strategy across North America, Europe, Asia, and MENA with a focus on high-growth opportunities and clean energy transition investments.
Michael Wong, Hong Kong-based partner at Dechert said, “We are pleased to have supported IMMG in setting up another fund to invest in opportunities that advance their strategic focus. Dechert has a leading practice advising on private equity fund formation and similar committed capital vehicles. This transaction again leveraged our team’s global knowledge, deep insights into the current market trends and extensive experiences in dealing with not only traditional fund structures, but more bespoke solutions across multiple jurisdictions, such as the LPF regime in Hong Kong.”
Dechert has one of the largest investment fund practices in the world, supporting clients throughout the entire fund lifecycle, from development and formation, to marketing, operations and transactions. It advises across the full range of mainstream and alternative asset classes and strategies, representing some of the world’s largest fund managers, as well as small- and mid-size managers.
The Dechert team was led by Michael Wong, Hong Kong-based partner of Dechert’s financial services practice, with support from associate Amanda Liu.
About Dechert
Dechert is a leading global law firm with 21 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.
