South Korea-focused private equity firm IMM Private Equity has acquired a 21 percent stake in T-Broad Holdings, a South Korea-based cable operator, for KRW200 billion (approximately US$187 million). The transaction, which was structured through IIM’s second fund, RoseGold II, was made in two tranches: KRW100 billion (approximately US$93.5 million) in common stock and the same amount in convertible preferred shares. IMM expects to support T-Broad’s efforts to sign up digital TV subscribers as South Korea continues its transition from analog to digital services.