11
Sep
LP perspective: All about allocation
Investment options within alternatives are plentiful, but picking partners is far from straightforward. Liquidity issues have prompted many LPs to reconsider their risk appetites, while changing macro conditions mean track records say little about likely future outperformance. Moreover, the industry is grappling with megatrends, from consolidation of the GP universe to increased private wealth participation, that may reshape the institutional investor experience. For South Korean LPs, there are many questions and few easy allocation decisions.
- What are the key factors influencing portfolio construction?
- To what extent are LPs using secondaries as a rebalancing tool?
- Are investors declining re-ups and pursuing new GP relationships?
- Do LPs want more exposure to Asia and how would they get it?
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SpeakersSeung-ki Jeong Head of Alternative Investment Team Kiwoom Asset Management
Daewon Kim Head of Private Equity & Venture Capital Hanwha Life Insurance
Sangbum Choo Head of Global PE & Credit Division Hyundai Investments
Jungmin Lee Chief Investment Officer Inveni
Kyungjun Kim Director Korea Investment Corporation (KIC)
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Seung-ki Jeong is the Head of the Alternative Investment Team at Kiwoom Asset Management, where he oversees the firm's alternative investment activities across both domestic and global markets. His responsibilities include managing separate managed accounts (SMAs), fund-of-funds (FoF) investments, and direct investments across a broad range of alternative asset classes and strategies. Prior to joining Kiwoom Asset Management, he served as an Alternative Investment Manager at DGB Life Insurance. Earlier in his career, he worked as an Alternative Investment Analyst at DB Financial Investment, specializing in alternative investment research.
Mr. Kim is the Head of Private Equity and Venture Capital at Hanwha Life Insurance, where he manages the PE/VC portfolio and leads investing in funds and co-investment opportunities. Before joining Hanwha in 2016, Mr. Kim worked at the Corporate and Investment Banking franchise of BNP Paribas Seoul Branch. He began his career in the Investment Banking Division at NH Investment & Securities. Mr. Kim holds a BA in Business Administration from Seoul National University.
Sangbum Choo is the Head of Global PE & Credit Division at Hyundai Investments. Prior to his current role, he served as the Head of the Private Equity Investment Team and was a member of the PE Investment Committee at Samsung Asset Management. Before that, Mr. Choo spent seven years as a Senior Portfolio Manager at the National Pension Service of Korea (NPS), which included a three-year assignment at the pension fund's London office. Additionally, he spent five years working within the alternative asset space at KTB Asset Management's Global Investment Team and its Hong Kong-based subsidiary, KTB Asia.
Sangbum is a graduate of London Business School and holds a BBA from Seoul National University.
Jung Min Lee, CFA is the Chief Investment Officer of INVENI Co., LTD., responsible for the firm’s investment strategy and portfolio management. Mr. Lee brings experience across public and private markets, derivatives, and cross-border strategic initiatives. Prior to joining INVENI, he led overseas new business development at Mirae Asset Global Investments, supporting strategic initiatives and M&A-related activities. Earlier in his career, Mr. Lee managed global equity portfolios at Kyobo AXA Investment Managers and Heungkuk Asset Management, following roles in proprietary derivatives trading and portfolio management at financial institutions in the United States and Korea. Mr. Lee holds a bachelor’s degree in Finance and Accounting from Georgia State University and a master’s degree in Computational Finance from DePaul University.
Kyungjun Kim is a Director in the Private Equity group at Korea Investment Corporation (KIC), based in Seoul. At KIC, he focuses on private equity investments, including fund commitments and co-investments across global markets.
Prior to joining KIC in 2019, he spent over eight years at KPMG Korea as a Senior Manager, working on various M&A advisory, valuation, and due diligence projects.
Kyungjun holds a Bachelor’s degree in Management Science from Sogang University.