South Korea's NPS commits $375m to Hamilton Lane co-invest fund

According to Pension&Investments - which cited an NPS spokesman - further details were not disclosed. Co-Investment Fund III was launched in December last year with a target of $1 billion and has already reached a close of $339.4 million. With this latest commitment a final close is expected to imminent.

NPS has KRW436 trillion in assets under management. As of March 31, it had roughly KRW5.2 trillion allocated to overseas private equity - just less than a quarter of its overseas alternatives allocations and roughly 1.2% of its total portfolio.

Last year, the fund announced it would increase its allocation to alternative investments to 11.3% from 8.4% as part of an aggressive plan that will see a substantial drop in its fixed income exposure. The fund posted an annual return of 6.99% for 2012, 0.3 percentage points above the annual average return since 1988, but below that of many of its global peers. 

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• Topics
• Fundraising
• North Asia
• Fundraising
• Co-investment
• Hamilton Lane
• South Korea
• National Pension Service (Korea)