Global alternative investment firm FinStreet Asset Management announced on 4th that it will establish a domestic private capital division.
The domestic private capital institutional sector will be led by Executive Vice President Han Seung-hoon, who is joining FinStreet Asset Management on 11th. Executive Vice President Han is an expert with approximately 20 years of experience in global investment banks such as Goldman Sachs and Deutsche Bank. In the last five years, he served as the Deputy Minister of the PI Division at Samsung Securities. He will also serve as a commissioner on FinStreet Asset Management's executive committee, management committee, and portfolio committee.
In the global alternative investment market, the private capital institutional sector encompasses private credit, direct lending, and hybrid capital, making it one of the fastest-growing areas. Major global firms, including Apollo, Kohlberg Kravis Roberts & Co. (KKR), and Blackstone, are significantly expanding their strategic investments in private capital.
In particular, the scale of private lending operations is showing growth that surpasses traditional private equity funds (PEFs). Recently, Blackstone closed fundraising for a private lending fund of about $10 billion, and Apollo has also established a specialty fund for loans exceeding $6 billion.
A representative of FinStreet Asset Management noted, "The domestic private capital market is still in its early stages, but its growth potential is very large," and added, "The launch of this division will provide new opportunities for investors while establishing a new foundation for FinStreet to leap forward as a true leading platform in the alternative investment market alongside its infrastructure and overseas corporate finance divisions."
FinStreet Asset Management, registered as a general private collective investment manager in January 2016, is an asset management firm active in global corporate finance and infrastructure investments. It manages approximately 13 trillion won in assets under management (AUM).