IGIS Asia Investment Management closes second data center fund

IGIS Asia Investment Management, the pan-Asian fund management arm of IGIS Asset Management, Korea’s largest real estate asset manager, has closed its second data center fund with 190 billion Korean won ($152 million), according to Mingtiandi.

Capital came from investors based in Singapore, as well as IGIS Asset Management, which is headquartered in Seoul.

IGIS AIM launched its first data center fund in August 2021, and subsequently broke ground on a data center project in Hanam, located east of Seoul, in October of that year. The Hanam IGIS Data Centre is scheduled for completion later this year.

Reports say IGIS AIM is reviewing seed assets to include in the newest data center vehicle, including assets it previously secured.

In September 2022, IGIS Asia Investment Management and global real estate company QuadReal Property Group formed a $1 billion programm