IFM Investors has established its eighth global office in Seoul in a bid to take better care of its growing Korean institutional client base.
The Australian fund manager also appointed Kelly Ki-Jeong Lee as a client relationship director in the Seoul office. He has significant experience across life insurance, asset management and financial markets, IFM said.
Korean institutional investors are increasingly allocating to non-traditional asset classes to fund retirement for the country’s ageing population.
“In many ways, our continued success in this market can be attributed to our investor-aligned ownership structure. Our presence will ensure we remain well positioned to partner with Korean clients seeking to diversify their investments offshore across infrastructure debt and equity for the long-term benefits of Korean workers,” said Brett Himbury, IFM chief executive.
This April, IFM and Korea’s Samsung Asset Management raised $480 million for a global infrastructure debt vehicle dedicated to Korean investors. Four domestic LPs, including Samsung Life Insurance, supported the fund.
IFM Investors, with A$98 billion ($74.4 billion; €62.4 billion) under management, has offices in Melbourne, Sydney, New York, London, Berlin, Tokyo and Hong Kong, in addition to the new Korean office. More than 40 percent of the firm’s investment professionals are based outside Australia.