Korean institutions avoid local asset managers amid US property losses

Growing losses on US and European real estate may spell the end of the asset management model that has helped Korean institutional investors pour money into the sector in recent years. “Korean investors are shifting their focus to infrastructure and energy-related investments,” said Spencer Park, special counsel in the Seoul office of Milbank LLP and a member of the firm’s global corporate group, whose clients include a number of Korean investors and asset managers. Spencer…