W&F October 2017

www.wealthandfinance-news.com 26 Wealth & Finance International - October 2017 ARA Korea was first founded by Macquarie Group of Australia in 2002, but was later acquired by ARA Group in 2014. ARA Group is a full-service real estate fund management platform headquartered in Singapore, with offices across 19 cities in seven countries, and currently manages multiple private funds and real estate investment trusts (REITs) across Asia Pacific. As well as having close to 100 assets and total assets under management (AUM) of over SG$35 billion (approximately US$26 billion). Currently, ARA Korea manages six privately-held REITs in Korea with total AUM of approximately US$1.2 billion, consisting of assets across varying sectors and regions, ranging from office, retail and residential sectors throughout Korea to overseas listed REITs securities. ARA Korea has acted as a market leader in Korea since its inception in 2002. It was one of the pioneers of the REIT industry in Korea, as well as being one of the first movers (and definitely the first mover as a foreign-invested manager) to be licensed as a REITs manager and to introduce REITs in Korea. Additionally, the company was one of the first movers (and definitely the first mover as a foreign-invested manager) to launch and manage a publicly-listed REIT in Korea, and also the first REITs manager in Korea to complete an acquisition deal using a forward purchase structure. Finally, ARA Korea was the first REITs manager in Korea to launch an indirect investment REIT to invest in overseas publicly-listed REITs. Furthermore, it is now one of the first movers in Korea to pursue both REITs and Real Estate Fund (REF) businesses simultaneously. Today, even though ARA Korea is already one of the largest real estate fund managers in Korea, in terms of AUM, it is never self-complacent and continues to push its limits and strive for growth and betterment each day. Clients of the company include some of the market leading investors based in Korea, including the National Pension Service of Korea which is one of the largest pension funds in the World with a total fund reserve of approximately KRW600 trillion, which is approximately US$530 billion. Licensed by the Korean government as a qualified external REITs manager in Korea, the firm is also in the process of obtaining the REF management license from the Korean government in order to gain a stronger and broader foothold in both the private and public real estate markets in Korea. Anthony provides an overview of the overall mission of the company, elaborating on how it aims to become the best-in-class real estate fund manager in Korea. “In my view, the fund management business is all about people. We do not rely on state-of-the-art factories or machineries to deliver the highest quality products, but instead we rely on our people. We must hire and retain the best people for the target markets and products and continue to support and develop them so that they can perform at their best. Also, given that real estate is a highly localized business in nature, it is critical to bring on the right set of talents with in-depth local market expertise and network, ensuring that the company have the upper hand in securing the best deals in the market and also in actively driving the portfolio assets at their peak levels through tough times as required.” Discussing his leadership style, Anthony leads us back towards the firm’s values, as well as commenting on how he deals with any challenges or particular issues which may arise. Acting with integrity is a key factor in his and the firm’s success, something he is keen to point out. “When leading and guiding the team, I always seek to adhere to the firm’s core values – i.e., R.E.I.T. (Respect, Excellence, Integrity, Teamwork). When confronted with difficult situations and pressured to make critical decisions, I try to reflect my thoughts on these four core values before making the final call. Of these four qualities, I believe that the most ARA Korea Limited is a full-service real estate fund management company based in Seoul, Korea. We profile the firm and speak to Anthony Kang, as we gain further insight into what makes the company the success it is today. Keeping it Real Estate 1710WF01 “When leading and guiding the team, I always seek to adhere to the firm’s core values – i.e., R.E.I.T. (Respect, Excellence, Integrity, Teamwork).”