IGIS beats Blackstone, Brookfield in Asian real estate AUM
The Korean real estate asset manager recorded $26.9 billion at end-2020, following Singapore's GLP with $65.2 billion
By Nov 24, 2021 (Gmt+09:00)
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Regarding global real estate AUM, IGIS was ranked 39th with $36.5 billion, up five notches from 44th with $28.2 billion as of end-2020. US asset management giant Blackstone Group came in top with $319.4 billion and Canadian global alternative asset manager Brookfield Asset Management Inc., with $215.8 billion, was second.
IGIS also scored well in terms of environmental, social and governance investment. Earlier this year, global ESG benchmark provider GRESB awarded IGIS the highest five-star rating for the fourth consecutive year, as a private investment firm managing Asia-based office properties.
In October, the Korean real estate manager signed a memorandum of understanding to buy the five-star Millennium Hilton Seoul from Singapore-listed City Developments Limited (CDL) for around 1 trillion won ($840.4 million). Before that, IGIS acquired Mangrove Sinseol, a renovated co-living space and formerly Ramada Encore Dongdaemun, for 57 billion won in July. It also acquired Tmark Hotel Myeong-dong for 95 billion won in June.
Managing 23 funds, IGIS' total assets reached 40.1 trillion won as of end-2020, 25.6% up from the previous year.
Write to A-young Yoon at youngmoney@hankyung.com
Jihyun Kim edited this article.
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