이 기사는 2020년 05월 19일 08:00 thebell 에 표출된 기사입니다.

South Korea’s private equity firm Stonebridge Capital’s real estate and infrastructure investment subsidiary Stonebridge Alternative makes a fresh start under a new name.

Stonebridge Capital has recently finalized the name for its real estate and infrastructure investment subsidiary as Stonebridge Asset Management, sources familiar with the matter said on May 15. The PE firm has undergone a process to receive approval from the nation’s financial regulator for an asset management business license under a tentative company name Stonebridge Alternative.

The PE firm initially planned to get approval from the regulator at the end of February, but the process has been delayed due to the COVID-19 pandemic. Yet, the firm is expected to show results as early as the first half of this year as it has continued sourcing and structuring deals so far.

Stonebridge Asset Management plans to invest mainly in real estate, energy and infrastructure assets at home and abroad. The alternative investment firm is considering investing in developed countries such as the U.S. and Europe, rather than high-risk developing countries. It plans to put money into energy and infrastructure assets like electricity generation, renewable energies and data centers and real estate assets like golf courses and logistics centers.

Stonebridge Asset Management is likely to actively seek and hire talents, with the firm planning to hire two to three more personnel at the executive director level or the manager level. Stonebridge Asset Management is currently led by Paek Sang-seok, former Stonebridge Venture CFO. Jung Seung-hun, who spent his career at Daewoo Securities and Macquarie Asset Management, is the CIO of the firm.

With the establishment of Stonebridge Asset Management, Stonebridge Capital will be able to strengthen its real estate and infrastructure investment business. The PE firm has long been mulling over the business diversification to boost its presence as a major player in the alternative investment industry. Stonebridge Capital has reportedly formed an internal consensus at the end of last year to create a separate corporate body for real estate and infrastructure investment which has its independence and professionalism.

Stonebridge is now expected to establish a holding company and put the PE firm Stonebridge Capital, venture capital arm Stonebridge Venture, real estate and infrastructure investment arm Stonebridge Asset Management and its Hong Kong office under its umbrella.

With the establishment of Stonebridge Asset Management, Stonebridge is equipped to become a comprehensive alternative investment group, having four subsidiaries specializing in PE, VC and overseas alternative investment. Industry watchers expect the Stonebridge Asset Management to settle down at a relatively fast pace thanks to Stonebridge’s proven track record, reputation and trust in the PE and VC space.

(By reporter Kim Hye-ran)