Samsung Life Increases Investment... Acquires 20% Stake in French Alternative Investment Manager

Meridiam Becomes Second Largest Shareholder in French Asset Manager
Last Year, Overseas Asset Managers Including UK Savills Expanded Investments

Samsung Life Insurance has become the second-largest shareholder of a French infrastructure investment specialist firm. This move demonstrates an active approach to overseas real estate and infrastructure investments.

On the 20th, Samsung Life Insurance announced that it acquired 20% of the common shares of Meridiam SAS, a French infrastructure investment specialist. Through this, it became the second-largest shareholder and plans to diversify its overseas infrastructure investment assets and enhance its management capabilities by participating in Meridiam's supervisory board and establishing a business cooperation council.

Headquartered in Paris, France, Meridiam manages assets worth approximately 27 trillion KRW, investing in various infrastructure assets across regions such as Europe and North America. In particular, based on operational bases in 11 countries, it invests in over 100 eco-friendly infrastructure assets including public services, sustainable infrastructure development, decarbonization solutions, and renewable energy, earning a reputation for strengths in the ESG (Environmental, Social, and Governance) sector.

Since last year, Samsung Life Insurance has actively conducted due diligence on Meridiam and engaged in negotiations. In February, Samsung Life Insurance CEO Youngmook Jeon and President Jongmoon Park, head of the Asset Management Division, met face-to-face with key local executives to discuss business cooperation plans.

Recently, Samsung Life Insurance has been actively pursuing overseas real estate and infrastructure investments. This is interpreted as a strategy to expand its asset management portfolio and secure long-term revenue sources. Previously, in 2021, Samsung Life Insurance acquired a 25% stake in Savills IM, a UK-based real estate asset management firm, for approximately 101.3 billion KRW. Last year, Samsung Financial Networks signed a fund investment agreement worth 930 billion KRW with private equity firm Blackstone, targeting the overseas alternative investment market. Recently, together with Samsung Fire & Marine Insurance, it formed a fund to purchase the Alpha Dome Tower in Pangyo, Gyeonggi Province, for 728.4 billion KRW.

A Samsung Life Insurance official stated, "Meridiam possesses diverse investment experience in the infrastructure sector and excellent management, making it a strategic partner for Samsung Life Insurance's global alternative investment expansion following the UK’s Savills IM," adding, "We will continue to actively pursue the expansion of our global asset management business to strengthen and diversify our revenue base."