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Korea's NPS selects GP investment partners

  • Anita Davis
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Korea’s National Pension Service (NPS), the world’s fourth-largest pension fund, has chosen eight domestic private equity and venture capital GPs to manage its newest, KRW900 billion ($840 million) Pan-Asian fund, according to Money Today.

The report noted that each private equity general partner will receive KRW200 billion ($186 million), while venture partners will receive less. The GPs specifically include three private equity players: an SBI consortium - comprising SBI Investment, SBI holdings and SBI PE - IMM PE and MBK Partners. Five venture firms will also receive capital: Atinum Investment, Intervest, Lindmann Asia Investment, Softbank Ventures and STIC Investment. These are also eligible for additional funding from Korea's venture fund-of-funds, the Korea Venture Investment Corporation.

The commitments will be used for PE and VC investing across Asia, excluding Korea, and other global markets.

Last year, the government outlined new expectations for investment activities, including boosting overseas exposure by 20% by the end of 2015. This would be a decided shift away from its current dependence on domestic bonds. NPS manages more than KW 300trillion ($267 billion) in assets.

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