Perspectives on South Korean Overseas Investments

Proportion of Investors Private Equity 80% 70% 70% 66% 59% 60% 50% 40% 30% 20% 10% 0% Buyout Venture Capital Growth Secondaries ☑ DARC MATTER Sources: Preqin Pro Investor Appetite In general, Fund of Funds are not popular among South Korean investors. • Debt deals are more popular in real estate than equity and the investment sales are typically in core properties. 37% 24% 19% 16% Fund of Funds Tumaround Co-Investment • • . Private equity investors shows a strong preference for potentially high return opportunities such as venture capital and growth equity. Investors also favor buyout firms, but typically invest with the largest managers in this space. Within private debt, direct lending and mezzanine debt are the much-preferred strategies. Investors prefer shorter dated loans that pay a predictable income stream. Infrastructure investors prefer to go direct to the project and typically aim to be mezzanine lenders. Proportion of Investors Focus Areas Private Debt Infrastructure 80% 100% 70% 70% 84% 87% 70% 60% 50% 50% 41% 40% 30% 20% Proportion of Investors 80% 60% 40% 20% 10% 0% 0% Direct Lending Mezzanine Distressed Debt Special Situations Primary Debt/ Mezzanine Fund of Funds 12% 7% Secondary Proportion of Investors 0% Real Estate 100% 87% 90% 80% 67% 70% 63% 60% 50% 46% 40% 33% 30% 26% 20% 10% Debt Core Core-Plus Value Added Opportunistic 8 Distressed

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