IGIS raises $353.9m

The Seoul-based asset manager closes its latest value-added fund.

IGIS Asset Management has held a final close on IGIS Strategic Fund I at KRW400 billion ($353.9 million, €308.1 million, £273.1 million).

The fund will invest around 75 percent of its capital into office assets in Seoul. The remaining capital will be deployed in retail, mixed-use and logistics assets.

The National Pension Service of Korea and Korea Post are the investors who committed to the fund, aside from its own commitment.

IGIS currently manages $20 billion of assets.