Korea Teachers to invest in Hamilton Lane, Paul Capital
Korea Teachers Pension Fund (KTPF) will invest $30 million each to Hamilton Lane and Paul Capital as it looks to increase its global exposure to 15% of its overall private equity portfolio by 2018.
According to AsianInvestor, the two firms were selected after a four-month process, based on track record, alignment of interests and staff turnover. A total of 11 secondary private equity firms applied for the mandate.
Hamilton Lane is currently raising its third secondary fund at $650 million. The fund was launched in June last year and has received $113 million under management.
Paul Capital - which closed its ninth private equity secondary fund on $1.65 billion - is targeting $2 billion for its successor. The fund is seeking to buy interests in both buyout and venture capital funds.
KTPF's investments in the two secondaries funds are still subject to the approvals of Financial Supervisory Service, which supervises financial institutions in Korea.
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