15 January 2013

Mitsubishi Establishes Investment Advisory JV in Korea with PineStreet Group

15 January 2013 - Mitsubishi Corporation (MC) announces the establishment of MC PineStreet Investment Advisory Co., Ltd. (MCPS), a joint venture established in Korea with PineStreet Group (PSG) for the purpose of providing qualified Korean institutional investors with alternative investment opportunities, consulting and advisory services specialized in real asset-backed products by utilizing MC’s and PSGs’ extensive network and industry experience. 

PSG is a Seoul-based private, alternative investment management firm established by Mr. Young-Gak Yun, the founder of Samjong KPMG LLC, one of the largest auditing firms in South Korea. 

This is the first entry by a Japanese trading company into the alternative asset management business in Korea. South Korea's pension fund is currently taking aggressive steps to broaden its portfolio, with plans to invest in alternative assets such as real estate, infrastructure, and real asset-backed investment opportunities around the world. Faced with supporting retirees in a nation with one of the longest life spans and lowest fertility rates in the developed world, the Korean pension fund is looking to boost returns by taking on more risk to prevent a future payment crunch. 

“We are very excited about our strategic partnership with PSG,” said Takajiro Ishikawa, General Manager at MC. “This partnership, including the establishment of MCPS, is an important strategic transaction for MC as we look to further strengthen our asset management capabilities and expand our presence in the asset management industry in the Asia Pacific region.” 

“We welcome MC as a strategic partner,” said Young-Gak (Ken) Yun, Chairman and CEO of PSG. “We look forward to building a long-term relationship offering innovative asset management services to institutional clients in Korea and we are confident that many opportunities will arise from our alliance.”

MC PineStreet Investment Advisory Co., Ltd. Head Office is in Seoul, Korea and will have approximately 5 employees.

Source: Mitsubishi