Investment giants strengthen presence in Korea
Major investment firms have made new hires in Korea, as they look to boost their presence in the market.
M&G Real Estate has promoted Daniel Cho as head of Korea, as it “seeks to strengthen and intensify engagement in the Korean real estate market”.
Cho, who will be based in Seoul, will be tasked with leading M&G’s growth initiatives and deal-sourcing capabilities in Korea’s real estate sector. He succeeds Ryu Hyesik, who is leaving to pursue personal projects.
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He has over 15 years of industry experience, having previously held the role of director of acquisitions for M&G Real Estate in Korea. He has also worked in KKR’s Asia real estate team, Mapletree and Ascendas.
Cho will report to Jing Dong (JD) Lai, chief executive and chief investment officer, M&G Real Estate Asia.
Lai said that Cho’s industry experience “will be invaluable as we continue to expand our presence in the Korean market.”
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Cho added: “I am honoured to lead the M&G Real Estate’s team in Korea, a market with immense potential. Leveraging the dynamism of the Korean real estate market, as exemplified by Seoul’s robust office sector, which stood out globally in 2023 with the tightest office vacancy rates and the most resilient yields. With M&G’s commitment to excellence, I am confident in our ability to strengthen our position as a leading real estate investor in Korea by driving growth and delivering value to our investors.”
Korean investors eye private capital
M&G is not the only firm eyeing opportunities in the Korean market.
Yesterday, Nuveen Private Capital appointed Bonsoo Koo as head of business development for Korea.
Nuveen Private Capital was formed in March 2023 following Nuveen’s acquisition of Arcmont, which in combination with Churchill, created a $73bn (£57.5bn) private capital platform and one of the world’s largest private credit managers.
In his new role, Koo will be exclusively focused on offering Arcmont’s and Churchill’s private credit and equity solutions and further deepening relationships with Korean investors.
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“Private capital has now become an important asset class for Korean investors’ portfolios, and providing a bespoke client service to help them meet their investment objectives is absolutely key to our growth strategy in the region,” said Koo.
David Burnside, co-head of Nuveen Private Capital Business Development, added: “With over $1.2bn of Korean committed capital, Arcmont and Churchill have cultivated longstanding strategic relationships with institutional investors in the region.
“We continue to see Korean LPs actively pursuing private credit and equity solutions due to their attractive risk-adjusted total return potential, lower volatility and portfolio diversification benefits. We are delighted to welcome Bonsoo to the team as we deepen our commitment to Korean investors and our presence in the region.”
