
Korea Teachers Pension Fund appoints new CIO
Korea Teachers Pension Fund (KTPF) has named Park Min Ho as its new CIO, replacing Yun Kyu Lee who is leaving the group. Park was previously head of investment strategy at KTPF.
According to local media, the recruitment process was public with 29 candidates putting themselves forward. This is the first time an internal candidate has won the job. Park joined KTPF in 2001, working in the risk management division before moving to the investment side. He formerly held positions at Kyobo Securities and Hana Bank.
Towers Watson estimates that KTPF had $11.5 billion in assets at the end of 2011. The fund wants to increase global exposure to 15% of its overall private equity portfolio by 2018. Earlier this year, it said it would make two commitments of $30 million to funds run by Hamilton Lane and Paul Capital, respectively.
Lee revealed he would step down as CIO in April after five years in the role.
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