Key Takeaways
- • IGIS Asia Investment Management, South Korea's largest real estate asset manager (ranked second in Asia by IREI in 2022), has formed a strategic joint venture with CHA Bio Group to launch an Asia-Pacific life science real estate investment platform targeting R&D facilities, manufacturing centers, hospitals, and medical offices across the region.
- • The venture will establish Korea Life Science Investment Platform (KLSIP), described as the first Korea-focused investment vehicle dedicated to life science real estate, designed to capitalize on growing demand in South Korea's biotech sector and attract multinational pharmaceutical companies.
- • The partnership combines IGIS's extensive track record in real estate transactions with CHA Bio Group's deep expertise in biopharma—CHA is one of South Korea's largest and oldest biotech groups with significant global operations—to secure first-mover advantage in an emerging sector.
- • The platform will serve a spectrum of customers ranging from early-stage biotechnology incubators to multinational pharmaceutical groups, addressing rapidly evolving market demands across metropolitan centers in South Korea and broader Asia-Pacific markets.
- • IGIS, the Singapore-based pan-Asian investment arm of South Korea's IGIS Asset Management, is expanding its healthcare portfolio following its 2023 launch of a dedicated healthcare and life sciences fund with a $350 million target.
Summary
IGIS Asia Investment Management announced a significant strategic partnership with CHA Bio Group on February 16, 2023, to establish a new Asia-Pacific life science real estate investment platform. The joint venture represents a convergence of real estate expertise and biotechnology sector knowledge, positioning both organizations to capture emerging opportunities in specialized property development across the region.
IGIS, the pan-Asian investment arm of South Korea's IGIS Asset Management, brings substantial credentials to the partnership. IGIS Asset Management is South Korea's largest real estate asset manager and was ranked as the second-largest real estate manager in Asia by IREI based on 2022 assets under management. CHA Bio Group brings complementary strengths as one of South Korea's largest and oldest biopharma groups with extensive global operations, providing deep industry insight into biotech sector requirements and dynamics.
The platform will develop and invest in high-quality life science assets including R&D and manufacturing facilities, hospitals, medical offices, and healthcare centers throughout Asia-Pacific. The venture targets companies across the entire spectrum—from biotechnology incubators seeking foundational infrastructure to multinational pharmaceutical corporations requiring sophisticated facilities in metropolitan centers. IGIS intends to establish Korea Life Science Investment Platform (KLSIP), positioned as the first Korea-focused investment vehicle dedicated to life science real estate, to provide capital and operational framework for facility development aligned with the sector's growing demands.
The partnership reflects both organizations' strategic view that the platform will serve as a catalyst for robust growth in Asia-Pacific's life science sector. By leveraging IGIS's transaction execution capabilities and CHA's industry expertise, the venture aims to establish first-mover advantage in providing best-in-class life science real estate solutions, particularly in South Korea while expanding across the broader region. This initiative aligns with IGIS's broader healthcare sector expansion, including its concurrent launch of a dedicated healthcare and life sciences fund with a $350 million target in 2023.
IGIS, the pan-Asian investment arm of South Korea's IGIS Asset Management, brings substantial credentials to the partnership. IGIS Asset Management is South Korea's largest real estate asset manager and was ranked as the second-largest real estate manager in Asia by IREI based on 2022 assets under management. CHA Bio Group brings complementary strengths as one of South Korea's largest and oldest biopharma groups with extensive global operations, providing deep industry insight into biotech sector requirements and dynamics.
The platform will develop and invest in high-quality life science assets including R&D and manufacturing facilities, hospitals, medical offices, and healthcare centers throughout Asia-Pacific. The venture targets companies across the entire spectrum—from biotechnology incubators seeking foundational infrastructure to multinational pharmaceutical corporations requiring sophisticated facilities in metropolitan centers. IGIS intends to establish Korea Life Science Investment Platform (KLSIP), positioned as the first Korea-focused investment vehicle dedicated to life science real estate, to provide capital and operational framework for facility development aligned with the sector's growing demands.
The partnership reflects both organizations' strategic view that the platform will serve as a catalyst for robust growth in Asia-Pacific's life science sector. By leveraging IGIS's transaction execution capabilities and CHA's industry expertise, the venture aims to establish first-mover advantage in providing best-in-class life science real estate solutions, particularly in South Korea while expanding across the broader region. This initiative aligns with IGIS's broader healthcare sector expansion, including its concurrent launch of a dedicated healthcare and life sciences fund with a $350 million target in 2023.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.