Savills Korea to offer PE funds

The firm’s Korean business has applied for a license to offer private equity and real estate funds in the region.

Savills, the international real estate group, has registered with the South Korean financial regulator for a license to offer private equity and real estate products.

The products will be managed by wholly owned subsidiary Savills Investment Korea once the registration is complete.

Savills’ Korean spokesman told pfm the license was still being processed and could not offer further information about the products or when they will be launched.

The Korea Herald reported that Savills Investment Korea, the subsidiary’s working name, was registered at the Financial Supervisory Service on January 2 to run private funds.