Rockspring Property Investment Managers (RPIM) has enhanced its ties with Korean institutional capital with the opening of its first office in Seoul.
The London-based firm, with gross assets of €7.3 billion under management, said the office opening was designed to provide Korean investors with a more direct and bespoke service – as well as to extend its existing network “in this important region”.
The Seoul office will be led by Julianne Cho who joined the firm in 2011 as its Korea representative.
Rockspring made headlines in September 2009 when it was mandated by Korea’s largest state fund, the National Pension Service (NPS) of Korea, to acquire core office properties in London on a non-discretionary basis.
Its relationship with the $320 billion investor evolved successfully and one year later Rockspring was awarded a $400 million separate account to acquire core assets across Europe, this time on a discretionary basis. NPS is also an investor in Rockspring’s value-added, commingled TransEuropean fund series.
Rockspring manages more than €2 billion of European real estate on behalf of institutional investors from Asia Pacific.
Kathryn Dixon, partner and global head of investor relations at the firm, said: “This new office further demonstrates Rockspring’s commitment to Korea and the Asia Pacific region. It will allow us to continue to refine our service to our clients and prospective clients. This is Rockspring’s top priority.”