Maston Investment Management Unveils Successive Development-Type Blind Funds

[Asia Economy Reporter Minji Lee] Mastern Investment Management is continuously launching development-type blind funds.

According to Mastern Investment Management on the 12th, they are recruiting investors for Opportunity Pursuit Fund No. 4 (‘Mastern Opportunity Pursuit Professional Private Real Estate Investment Trust No. 4’), targeting residential development projects centered in Seoul and the metropolitan area, and Opportunity Pursuit Fund No. 5 (‘Mastern Opportunity Pursuit Professional Private Real Estate Investment Trust No. 5’), focusing on non-residential development projects such as logistics and offices.

The target amount for each fund is approximately 150 billion KRW, and they are expected to be launched by the end of this year or early next year. In addition, they plan to set up mezzanine loan blind funds investing in subordinated loans and physical real estate blind funds.

Earlier this year, Mastern Investment Management raised 100 billion KRW from the Teachers’ Pension, KDB Life Insurance, and others to establish the 1 trillion KRW scale development-type blind fund ‘Mastern Opportunity Pursuit Professional Private Real Estate Investment Trust No. 2.’ Through this fund, the company invested in six projects including office development in Yeoksam-dong, urban lifestyle housing development in Nonhyeon-dong, and Jinwi logistics center development. The fund was fully subscribed approximately 10 months after the investment commitment, and the expected annual return is projected to exceed 15%.

Daehyung Kim, CEO of Mastern Investment Management, stated, “The differentiating point is that Mastern Investment Management itself acts as the project operator for development projects, ensuring that blind fund capital is used only for thoroughly verified projects.” He added, “As of the third quarter of this year, about 70% of the invested assets were invested through blind funds, and various types of development-type blind funds will continue to emerge as a key growth driver for Mastern Investment Management.”

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