Overseas Lands
Franklin Templeton Investments is participating as a joint investor in a 300 billion won (US$252 million) overseas real estate fund by KORAMCO Fund. The world-renowned asset management company’s participation in the search of investment targets and risk management is expected to be a boon for KORAMCO Fund’s fundraising efforts for real estate investment abroad.
The Korean company announced on Sept. 29 that it was working on an overseas real estate fund together with Franklin Templeton Investments as a joint investor, manager, and advisor. A total of 300 billion won (US$252 million) is scheduled to be raised in the first stage, and equities of special purpose companies in possession of real estate properties are slated to be acquired in that phase. It is said that the amount of the fund is estimated to increase up to 600 billion won (US$504 million) or so in the future, given the financing capabilities of Franklin Templeton Investments.
The fund is to be invested in the United States, Asia, and Europe. Colony Capital, Gaw Capital Partners, and the Starwood Capital Group are fixed as the partners to cover the respective regions. An increasing number of institutional investors around the world are showing interest in the project, with Franklin Templeton Investments having decided to hold hands with KORAMCO Fund.