KKR’s investment is being funded from KKR Asian Fund III. :
US private equity giant KKR has teamed up with South Korea’s IGIS Asset Management and National Pension Service (NPS) to buy a $1.9bn (€1.65bn) real estate project in Seoul. The trio are buying the mixed-use project under development in the Gangnam business district from a consortium led by local engineering firm Daor E&C. The property will primarily consist of prime grade office space, amenity retail space and a five-star hotel, with a gross floor area of 239,188sqm and net leasable area of 121,707sqm.