IPO Specialist Bright Asset Management Expands Strategic Investments Based on High Returns

Bright Asset Management, an IPO-specialized asset management company led by CEO Choi Woo-sik, plans to expand strategic investments across various sectors this year based on its high returns.

Bright Asset Management, specializing in public offering stocks, currently manages three KOSDAQ Venture Funds, five Public Offering Funds, and one High-Yield Fund, operating in collective investment, discretionary investment, and advisory services. As of the end of last month, the total AUM stands at KRW 135.7 billion, composed of KRW 76.2 billion in fund AUM, KRW 38.1 billion in discretionary assets, and KRW 21.4 billion in advisory assets.

CEO Choi Woo-sik of Bright Asset Management is a former key member of VM Asset Management, Korea’s first public offering stock specialist house, once holding a 9% stake in the company. After becoming independent, he established Bright Advisory and subsequently Bright Asset Management, building an extensive network in the IPO market over nearly 20 years.

Bright Asset Management has demonstrated outstanding performance in terms of returns. The total return of Public Offering Fund No.1, launched in February 2022, reached 33.98%, while KOSDAQ Venture Fund No.1, launched in June of the same year, recorded a 44% return. This success was attributed to a selective lock-up strategy on stocks with significant upside potential based on deep analysis of public offering stocks, which allowed for an increased allocation.

While Bright Asset Management generally set up public offering funds primarily for institutional LPs, Public Offering Fund No.3 was the first to be established based on a retail customer base. The company plans to further expand funds targeting retail customers going forward.

The company is also actively investing in its proprietary segment. Recently, it has sought to diversify proprietary revenue streams by participating as a sponsor in SPACs such as Eugene SPAC, IBK SPAC, Yuanta SPAC, Mirae Asset SPAC, Hana Financial SPAC, and Kyobo SPAC. Additionally, in the pre-IPO space, Bright Asset Management is focusing on securing high financial stability through active proprietary investments in companies such as Company A, the leading player in the pet market (alongside fund investments), Company B, a leader in microbeads, and Company C, which has strengths in TL implants (also alongside fund investments).

The outlook on the ESG sector is also positive. Accordingly, the company has made investments in biodiesel-related firms and plans to accelerate follow-up investments in the ESG field based on this experience.

Meanwhile, Bright Asset Management is committed to securing top talent under the motto "Finance is all about people." To this end, it has improved welfare and salary systems, including ▲an additional 5-day refresh leave per year besides annual leave (allowing up to two weeks of vacation including 5 days of annual leave), ▲up to KRW 3 million support for vacation expenses such as airfare and accommodation, and ▲reasonable performance bonuses. The company aims to achieve external growth centered on outstanding talent and to advance as a mid-sized asset management firm.