Samsung Securities to Exclusively Offer Blackstone Feeder Trust Fund in Korea

On June 24, Samsung Securities announced that it will exclusively offer a feeder trust fund in collaboration with Blackstone, the world's largest alternative asset manager.

John Gray, President and Chief Operating Officer (COO) of Blackstone, conducting a seminar for Samsung Securities PB clients. Photo by Samsung Securities

The fund being offered is a trust product that invests in the 'Blackstone Private Credit Fund iCapital Offshore Access Fund SPC (BCRED-O)', Blackstone's flagship private credit fund. Samsung Securities has independently raised 150 billion KRW, the largest amount in the domestic market.

With the launch of this feeder fund, Samsung Securities has secured exclusive domestic retail distribution rights for one year. This establishes a foundation to directly provide high-quality global credit assets to high-net-worth individuals and PB clients in Korea.

Samsung Securities manages over 300 trillion KRW in retail assets. Through its dedicated ultra-high-net-worth brand 'SNI (Success & Investment)' and family office business, the company has built close relationships with Korea's leading wealthy clients, positioning itself as a top retail house in the securities industry.

BCRED-O provides access to Blackstone's Credit & Insurance strategies, managed by one of the largest alternative credit managers with over $465 billion in assets for individual investors. BCRED aims to offer investors an income-oriented, defensively positioned portfolio. Historically, BCRED has focused on large companies in sectors with low default rates and prioritizes senior secured loans.

BCRED leverages the insights and capabilities of an asset manager with $1 trillion in assets under management. It features a structure that allows for quarterly redemptions. In addition, it holds a Baa2 rating from international credit rating agency Moody's, which demonstrates its high credit quality on a global scale.

This product attracted approximately 2 billion KRW per client, raising a total of 150 billion KRW, the largest single launch for a PDF fund in Korea, thereby demonstrating the potential for global private alternative funds to establish a foothold in the domestic market.

Founded in 1985, Blackstone currently manages over $1 trillion in assets. Fourteen years ago, Blackstone established its Private Wealth business, which now manages $271 billion in assets through this channel. Blackstone is focused on providing institutional-level investment expertise to individual investors worldwide.

Since 2016, Samsung Securities has introduced global private alternative funds to individual clients. The company has provided systematic training on global alternative investments to its PBs, building industry-leading global wealth management capabilities.

A representative from Samsung Securities stated, "This exclusive offering demonstrates that Samsung Securities can provide global-level alternative investment opportunities to individual investors, leveraging our global partnerships and product sourcing capabilities," and emphasized, "We will continue to position ourselves as a premium wealth management platform that leads the advancement of portfolios for Korean high-net-worth individuals."

Meanwhile, John Gray, President and Chief Operating Officer (COO) of Blackstone, visited Seoul and conducted a seminar for Samsung Securities PB clients.