Lee Hyunseung Magic.. KB Asset Overseas Real Estate Fund Custody Surpasses 2 Trillion Won

Hyunseung Lee, CEO of KB Asset Management

[Asia Economy Reporter Hwang Junho] KB Asset Management's cumulative overseas real estate commitment amount (assets under management) has exceeded 2 trillion won.

KB Asset Management announced on the 25th that the new commitment amount for overseas real estate funds has surpassed 718.2 billion won since the beginning of the year.

This includes commitments such as a 310 billion won U.S. senior real estate fund, a 270 billion won U.K. senior real estate fund, and a 130 billion won U.S. rental housing real estate fund.

This is also the result of strengthening the overseas real estate fund sector, including the establishment of the Overseas Real Estate Management Headquarters when CEO Lee Hyun-seung took office in 2018. The Overseas Real Estate Management Headquarters possesses talented professionals with diverse real estate investment experience from comprehensive asset management companies, specialized real estate management firms, banks, insurance companies, and industries, as well as a rich investment network. Based on this expertise, they have recorded operational performance without a single principal loss. Accordingly, the size of the overseas real estate fund, which was about 560 billion won in assets under management when CEO Lee took office, exceeded 1 trillion won in 2019 and surpassed 2 trillion won as of this month.

Hong Seong-pil, Head of Overseas Real Estate Management at KB Asset Management, said, "We plan to additionally set up mezzanine loans and equity funds in the second half of this year," and added, "It will be possible to surpass 3 trillion won in commitments next year."