What AIP Asset Management does

AIP Asset Management is a Seoul-headquartered alternative investment firm originally founded in 2012/2013 as FG Asset Management and rebranded in May 2018 under its current CEO Danny Kim. It is the first Korean asset management company focused entirely on offshore investments, operating two core product platforms: (1) a global real estate platform offering equity and debt investments in income-producing commercial properties across the US, UK, Europe, and Australia — including landmark assets such as the Microsoft UK HQ, Novo Nordisk HQ, OP Financial Group Vallila campus (€480M), and a four-building Australian government-leased portfolio — and (2) a Multi-VC platform offering pre-IPO KOSDAQ investments via convertible bonds, growth project funds, and high-yield vehicles. Products are distributed through fund vehicles branded AIP EURO GREEN, AIP US RED, AIP Pre IPO, AIP Growth, AIP Insight, and AIP High Yield, among others.

The firm generates revenue through two streams: recurring management fees on assets under management (which reached KRW 22.4 trillion / ~$17B as of mid-2022) and performance/carried interest fees tied to investment returns, with target deal-level returns of 7–10% annually. Its client base is primarily institutional — 57% investment banks, 23% institutional investors, 8% public pensions, 6% private pensions, and 6% high-net-worth individuals — and is distributed through top-tier Korean investment banks (NH Investment & Securities, Shinhan Investment Corp., Korea Investment & Securities) as well as co-investment partnerships with global firms like JP Morgan and Goldman Sachs. The firm operates from five global offices (Seoul, New York, Sydney, Singapore, London) with 11–50 employees and reported approximately KRW 300 billion in annual operating revenue for FY2021.

In 2026, AIP registered for investment advisory and discretionary investment management businesses under the Korean Capital Markets Act, signaling a planned expansion into higher-margin bespoke mandates. The firm has also recently demonstrated successful hedge fund performance recognition (second place overall at the 2025 Canadian Hedge Fund Awards, first place in two categories) and is navigating ongoing executive transitions, including the 2026 appointment of Jay Bala as CEO, a September 2025 ransomware incident, and disclosed litigation and fines.

Name

AIP Asset Management

Legal name

에이아이피자산운용

Website

https://aipasset.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

AIP Asset Management is a Seoul-based alternative investment firm managing ~$17B AUM across global real estate equity/debt and Korean pre-IPO/VC funds. It serves Korean institutional investors (IBs, pensions) and HNW individuals via tier-1 Korean investment bank distribution partnerships.

Ownership category

akta.pro rank

Product category

Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Real Estate Investment Trusts (6798), Investment Advice (6282)

akta.pro primary industry

Small-Cap Equity (Active) (FSAAAIAC)

akta.pro secondary industry

Initial Public Offerings (IPOs) (FSACAAAA)

Keywords

• Alternative investments
• Asset management
• Real estate funds
• Venture capital funds
• Pre-IPO investments

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Fund Management Fees: AIP generates revenue through management fees charged on its private fund vehicles (real estate funds, mezzanine funds, Pre-IPO funds, etc.). Fees are calculated based on assets under management (AUM) across its portfolio of alternative investment funds.
2. Performance / Carried Interest Fees: The firm earns performance-based fees tied to investment returns, including gains from property exits, equity appreciation, and dividend distributions. The company targets superior long-term risk-adjusted returns for clients, with deals structured to generate annual returns of 7–10%.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

AIP Asset Management (에이아이피자산운용) is a Korean alternative investment firm that manages private funds focused on offshore real estate equity and debt investments, as well as venture capital and pre-IPO equity investments. The firm structures and distributes these alternative investment vehicles primarily through Korean investment banks and institutional channels, with selective offerings to high-net-worth individual investors.

Product overview

AIP Asset Management is a global alternative investment firm offering a platform of investment products centered on two main strategies: Real Estate (comprising equity and debt investments in global commercial properties) and Multi-VC (venture capital and pre-IPO investments). The real estate platform includes direct equity acquisitions of income-producing assets across Europe, U.S., and Australia, as well as debt financing products through mezzanine and structured private debt. The Multi-VC platform offers venture capital funds targeting KOSDAQ pre-IPO companies via convertible bonds, growth project funds, and high-yield investment vehicles. The product portfolio is organized through various fund vehicles including AIP Pre IPO funds, AIP Growth funds, AIP Insight funds, AIP High Yield funds, and geographic-focused products like AIP EURO GREEN (European properties) and AIP US RED (U.S. debt investments).

Differentiator

Problem solved

Functional benefit

Products and services

• AIP Real Estate Equity Funds Alternative investment funds providing exposure to offshore real estate equity opportunities, distributed to Korean institutional and HNW investors via IB channels.

Quantifiable outcome

• Over $4.3 billion of landmark transactions executed over 5 years of rapid growth
• +6 more outcomes

Named customers12 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• Avant Asset ManagementcoreStrategic or Co-development Partner · 1 February 2020Helsinki-based investment manager that cooperated closely with Seoul-based AIP Asset Management to acquire the OP Financial Group's headquarter office campus in Helsinki, Finland for €480 million on behalf of a South Korean-Finnish consortium including NH Investment & Securities, Shinhan Investment Corp., and Varma Mutual Pension Insurance Company. Avant Asset Management provides local market expertise and asset management for the Finnish property.
• FI Real Estate Management (UK)minorStrategic or Co-development Partner · 1 January 2018UK-based portfolio fund management company that served as the seller of Microsoft UK headquarters buildings acquired by AIP Asset Management through AIP EURO GREEN Fund No. 8. AIP directly discovered this investment opportunity through its local market network.

Scale indicators9 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• StepStone Group: Global private markets firm that provides institutional investors access to a diversified portfolio of alternative investments. Comparable in intermediating between institutional capital (especially pension capital) and alternative investment managers.
• Brookfield Asset Management: Global alternative asset manager with a major real estate franchise investing in office, multifamily, and logistics across the US, Europe, and Asia Pacific. Comparable in acquiring trophy office assets leased to investment-grade tenants in the same gateway cities AIP targets.
• Partners Group: Global private markets manager with sizable real estate, private equity, and infrastructure AUM. Comparable in offering institutional clients diversified alternative strategies, but at much larger scale and broader mandate.

Direct peers

• KB Securities: Leading Korean securities firm with an asset management and alternative investment arm that distributes pooled funds to Korean institutional and HNW clients, competing head-to-head with AIP's fund platforms.
• IGIS Asset Management: Large Korean alternative investment manager with significant offshore real estate exposure and a multi-strategy platform. Most directly comparable domestic peer competing for Korean institutional capital and offshore deal flow.
• Pacific Alliance Group (PAG): Asia-based alternative investment firm managing real estate, private equity, and hedge funds with global deal flow. Comparable as an Asia-rooted alts platform executing large cross-border real estate and credit transactions.
• NH Investment & Securities: Top Korean investment bank that is both a co-investor and distribution partner with AIP and also operates its own alternative investment and asset management businesses, including real estate funds. Comparable in client base and pooled-fund distribution.
• Mirae Asset Global Investments: Korean-headquartered asset manager with global reach and multiple product strategies including real estate and alternatives. Comparable in being a Korean-origin firm expanding alternative investment offerings to international markets.
• Shinhan Investment Corp. Major Korean IB that co-invests with AIP in landmark deals (e.g., OP Financial Group) and runs its own alternative investment products. Comparable in serving the same institutional investor pool with offshore real estate and alternative strategies.

Regional players

• Meritz Securities (Alternative Investment Arm): Korean securities firm with a growing alternative investment and asset management business distributing pooled products to Korean institutional and retail clients. Comparable as a regional peer operating in the same Korean distribution ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights8 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AIP Asset Management