Korea Investment & Securities said on the 2nd that it formed a strategic partnership with Cliffwater, a global alternative investment manager.
Through this partnership, the company expects to create synergies in various areas, including product development and sales cooperation, according to Korea Investment & Securities. In particular, it is expected to further strengthen client access to overseas private-asset products.
According to Korea Investment & Securities, Cliffwater is an alternative investment advisory and management firm with competitiveness in the U.S. private credit and private equity markets. It manages a total of $127 billion, including advised assets. Of that, about $45 billion is managed in interval funds, alternative investment products for ultra-high-net-worth individuals.
A Korea Investment & Securities official said, "This partnership will serve as an opportunity to further strengthen our ability to leverage Cliffwater's competitiveness and provide clients with differentiated alternative investment solutions in the global market."
Stephen Nesbitt, founder and chief executive officer (CEO) of Cliffwater, said, "Korea Investment & Securities is a financial firm with strong reputation and expertise in Korea and across Asia," adding, "The new partnership will also be an important milestone for Cliffwater's growth."