Savills Investment Management (Savills IM), the international real estate investment manager, today announces the completion of its strategic alliance with Samsung Life, the leading Life insurer in Korea, and its real estate asset management subsidiary, Samsung SRA.
The partnership will allow Savills IM to grow existing products across real estate equity and debt, as well as paving the way for the launch of new strategies targeting asset classes including European Logistics and Living.
Completion of the transaction sees Samsung Life acquire a 25% minority interest in Savills IM for £63.75m paid in cash and an agreement to commit capital of US$1bn over the initial four years (“Initial Term”) of the relationship to Savills IM’s investment strategies. Samsung Life has options to increase its interest in Savills IM by up to a further 10% over the Initial Term, depending upon the quantum and timing of the provision of capital to Savills IM’s investment products, the maximum being achievable if at least US$2bn of capital is committed during the Initial Term.