The acquisition battle for Doosan Tower, which ended with Korea Investment & Securities winning over IGIS Asset Management, signals a change in the real estate asset management market. In the commercial real estate market, asset managers and securities firms have often been in a cooperative relationship rather than being direct competitors. Asset management companies and securities firms typically join hands to recruit equity investors and underwriters. However, this relationship has changed, and there seems to have been an inflection point in 2023. This is when securities firms began to open their own real estate private fund businesses. NH Investment & Securities was the first securities firm to start […]