IMM이 택한 '에버그린 펀드' 뭐길래…무기한 초장기 투자 [넘버스]

IMM PE's adoption of an evergreen fund structure for AirFirst marks a pivotal shift in Korea's PE market toward genuine long-term value creation unconstrained by traditional fund lifecycles. This approach enables flexible exit timing and reinvested returns, supporting true compounding—but introduces governance risks as general partners must balance competing interests between existing and new limited partners during asset valuations. The absence of transparent pricing mechanisms creates potential for LP disputes, highlighting a critical challenge the Korean PE industry must address to successfully implement this model.