Igis Asset Management Sale Draws Hanwha and Heungkuk to Final Round

South Korea’s largest real estate asset manager, Igis Asset Management, has entered its final sale stage with Hanwha Life Insurance and Heungkuk Life Insurance among shortlisted bidders, alongside one or two private equity firms. Sellers including founder Kim Dae-young’s widow Son Hwa-ja and other investors are offering a 66% stake, targeting a valuation of about KRW530bn (USD380m). Igis, managing 67tr won in assets and holding 15% of the domestic market, reported a 275% surge in first-half net profit to 38bn won. The transaction, advised by Morgan Stanley and JPMorgan, is expected to close this year, with preference for a domestic buyer to reduce restructuring risks.