Samsung Life Buys Stake in Savills Investment Management
Posted on 05/27/2021
Samsung Life Insurance is the life insurance arm of Samsung Group. Samsung Life was a private company from its foundation in 1957 until it went public in May 2010. Samsung Life owns 100% of Samsung SRA Asset Management Co.
Samsung Life is taking a 25% stake in Savills Investment Management for £63.75 million (US$ 90.6 million). This deal gives Savills Investment Management an enterprise value of US$ 362.57 million. Savills Investment Management is the fund management unit of Savills. The remaining 75% of Savills Investment Management will be held by the parent real estate firm. Samsung Life will be granted a call option to take an additional 10% stake in Savills Investment Management by 2025.
In addition, Samsung Life will provide US$ 1 billion in fund management capital, which Savills will use to invest in real estate equity and debt strategies in various markets in Asia and Europe. Savills Investment Management seeks to gain more capital from South Korean saver investors.
Advisors
Fenchurch Advisory and EY advised Samsung Life on the transaction.
