Macquarie Group has recently made changes to Macquarie Korea Asset Management Co Ltd (MKAM)’s fundraising team to strengthen communication with limited partners, sources said on July 6.
Under the new name of Client Solutions Group, the team – which has so far been responsible for raising MKAM’s funds investing in alternative assets such as private equity, real estate and infrastructure – will have expanded responsibilities. It will also draw investors to the firm’s equity and bond funds, with the team’s primary focus on communication with institutional clients.
The changes aim to better serve the needs of the firm’s limited partners by offering them a one-stop solution across all asset classes, including traditional and alternative assets. The move also can be seen as part of the integration process after MKAM merged with Macquarie Korea Opportunities Management Ltd (MKOM), its affiliate company managing private equity funds, in March.
MKAM has been active in fundraising in the South Korean private equity scene. In 2019, MKOM closed a project fund investing in a minority stake in technology company LG CNS Co Ltd at 350 billion won ($292 million).
Most recently the firm has won a mandate to manage 160 billion won from the South Korean National Pension Service, giving momentum to fundraising of its fifth blind-pool fund, Macquarie Korea Opportunities Fund V. The fund’s target is to raise 750 billion won. (Reporting by Hye-ran Kim)