The preferred bidder for IGIS Asset Management, the number one real estate alternative investment management company in Korea, has been determined. This has been the hottest topic in the Korean commercial real estate market this year. Hillhouse Investment, a foreign private equity firm based in Singapore, which submitted the highest bid amounting to KRW 1 trillion (approximately USD 1 billion) has been selected as preferred bidder. There was heated competition between Hillhouse and Heungkuk Life until the bitter end, but it appears that Hillhouse received a higher score during the comprehensive evaluation of factors such as price and future vision. Hillhouse participated in the IGIS acquisition through Rava […]