The majority shareholder of Innovation IB Asset Management, well-known as a specialized asset management company for public offerings, has changed.
According to the investment banking (IB) industry on the 7th, the majority shareholder of Innovation IB Asset Management has changed from CEO Lee Gyeong-jun to Asobi Korea. Asobi Korea acquired all shares (39,000 shares) held by CEO Lee, securing 100% equity.
Innovation IB Asset Management was founded in 2019 by CEO Lee, who came from the IB division of LIG Investment Securities (now CAPE Investment & Securities). It started as a discretionary investment manager and has grown into a specialized asset management company for public offerings with assets under management (AUM) of 100 billion won. Its net worth is estimated at about 10 billion won.
Asobi Korea, a newly established management consulting company that started in 2023, acquired Innovation IB Asset Management with the goal of expanding its institutional sector business. It is also reportedly planning to promote mergers and acquisitions (M&A) targeting small and medium-sized enterprises in order to attract global funds.
Asobi Korea also replaced the management team simultaneously with the acquisition of Innovation IB Asset Management. It appointed Lee Joo-hoon, born in 1979 and formerly of JB Asset Management and Arc Miss Asset Management, as the new head. CEO Lee Gyeong-jun will step down from his position and take on only the role of Chief Investment Officer (CIO).
CEO Lee Gyeong-jun said, "I proceeded with the sale of management rights to Asobi Korea for the continuous growth and development of Innovation IB Asset Management," adding, "In addition, I will remain as the overall head of operations at Innovation IB Asset Management and continue to manage existing business sectors, including public offering funds."