IGIS Asset Management Co. has closed its IGIS Strategic Fund I, a fund with an equity capitalization of KRW 400 billion ($350 million), approximately 12 months after launching marketing.
The fund received capital commitments from two leading Korean institutional investors, The National Pension Service of Korea (NPS) and Korea Post.
The fund will plan to take advantage of inefficiencies in the Korean real estate market to pursue value-add opportunities, utilizing a “buy, fix, sell” strategy. With a target holding period of two to five years, the fund will aim to achieve capital appreciation primarily from the acquisition, redevelopment, repositioning, operation, leasing and sale of value-add office, retail, mixed-use and logistics real estate investments in the three business districts in Seoul, as well as in other Greater Seoul submarkets and other major metropolitan
