Igis launches $100m secondary fund for overseas investment
时间:2023-12-04 18:49:19 出处:요리阅读（143）
Igis Asset Management, the largest real estate asset manager in South Korea, has launched a secondary fund worth $100 million in an effort to widen its investment portfolio.
Igis has recently set up a pooled investment fund worth $100 million to invest in a secondary blind fund operated by a global private equity firm. The name of the UK-based private equity firm was not disclosed.
A secondary fund refers to buying an existing interest or asset from a primary private equity fund. Through the investment vehicle, liquidity providers can benefit from a faster return of capital compared to a primary investment.
Along with the secondary fund, Igis will form another fund-of-funds worth $100 million for direct investment in some of the companies funded by the secondary fund.
It is the first time for Igis to set up a secondary fund through a blind pool, which does not state its investment goal.
Amid a struggling commercial real estate market plagued by persistently high rates, the firm hopes to broaden its investment banking portfolio, expanding its presence in the secondary fund market. The firm's portfolio was focused on alternative investments, including real estate and infrastructure.
“For investment banking, the global secondary fund market has grown at fast rate from $22 billion to $120 billion. It is meaningful that Igis Asset Management has made into the secondary fund market,” an official from the firm said.
- MBK chairman makes donation to promote Korean art at New York's Met
- S Korea, UAE to hold aviation talks over potential increase in bilateral flights
- Seoul shares dip 1 pct on Fed rate hike woes, won sharply slides
- “北, 무단철거 금강산 골프장서 옥수수 건조”
- S. Korean diplomat discusses NK human rights with US envoy
- Yoon says improved relations between S. Korea, Japan are people's will
- Political parties call for revision of military exemptions for athletes
- BOK wins lawsuit on face of Korea's 100 won coin
- S. Korea, US, Japan install trilateral communication hotline amid N. Korea, China challenges