London-listed alternative asset manager ICG has announced its investment in South Korean seasoning and condiment manufacturer Big Mama Seafood for an undisclosed sum.

ICG said the investment was made through its Asia-Pacific Corporate team, which seeks locally sourced, directly originated, and privately negotiated deals in Asia-Pacific middle-market companies.

ICG had closed its fourth Asia-Pacific fund at $1.1 billion last year, which was 60% larger than the previous fund.

Big Mama Seafood is the dominant player in the Korean B2C raw broth and seasoning market, which now accounts for 1.1 trillion won ($888 million), according to the investor.

The seasoning producer is located in a well-known fishery region in the Southern coast of Korea with access to an ample supply of fresh and high-quality raw materials.

ICG said will work in partnership with the company’s founding team to drive its next phase of growth, in terms of both geographic expansion and enhanced organisational capacity.

ICG’s past investments in Korea include K-12 tutoring company Time Education, plastic injection moulding firm Yudo China Holdings, and industrial thermistors manufacturer JamesTech.

The firm’s most recent investment in the Asia-Pacific was in surgical day hospitals PresMed Australia Pty Ltd in December.

The asset manager provides flexible capital to mid-market businesses across Australia, New Zealand, Japan, South Korea, Hong Kong, and Southeast Asia. It manages $68.5 billion of assets across structured and private equity, private debt, real assets, and credit.