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Alternative Market Briefing

Skybridge enters South Korea market through partnership with Woori

Wednesday, July 10, 2013

Benedicte Gravrand, Opalesque Geneva:

A U.S. alternative investment firm and a Korean financial group are partnering to allow the distribution of hedge fund products throughout Korea and other regions in Asia.

The U.S. firm in question is Skybridge Capital, which is headquartered in New York and manages around $8.2bin in assets under advisement or management. And the Korean firm is one of the country’s largest securities firms, Seoul-based Woori Investment & Securities (Woori I&S), a core subsidiary of the Woori Financial Group, one of the largest financial groups in Korea. Woori I&S offers various financial services including wealth management, investment banking and prime brokerage, with clients assets of Won148.9tln, 117 domestic branches and 13 overseas branches.

Skybridge is among the first hedge fund houses to tap into the South Korean market. On top of the partnership, Woori is also allocating capital in one of Skybridge’s hedge funds.

"Forging a partnership of this kind with one of the largest securities firms in Korea underscores our commitment to provide alpha-centric hedge fund solutions to a broad, global investor base, as well as shows increased appetite for this type of product among investors in Asia," said Ray Nolte, co-managing partner and chief investment officer at SkyBridge Capital, in the announcement.


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