The British asset management company ICG is withdrawing from the Korean rental housing market. ICG has been the most proactive and fastest of foreign asset managers in investing in the Korean rental housing market. Many foreign asset management companies and investors have recently begun to actively invest in the sector, with cases from ICG, Kohlberg Kravis Roberts (KKR), Morgan Stanley, Canada Pension Plan Investment Board (CPPIB), and M&G Real Estate. However, a recent revision to ICG’s strategy to focus on the European and UK market shows that its Asian business will need to be scaled back. Reportedly, its investment personnel in Asia, including Korea, has been significantly downsized. […]