South Korea's NPS eyes US-based Colonial Pipeline
Korean SWF National Pension Service has emerged as a possible player to take a 23% stake in US pipeline operator Colonial Pipeline Company.
Further details about the deal have not been disclosed. NPS, with its $235 billion of reserves, is world's fifth-largest fund. The asset it is eyeing, Colonial Pipeline Co., is an interstate common carrier of petroleum products, headquartered in Georgia. It delivers an average of 100 million gallons of gasoline, kerosene, home heating oil, diesel fuel and national defense fuel to shipping terminals in 12 states and the District of Columbia, according to its website.
NPS has maintained an alternative investment strategy, focused on segments including infrastructure, real estate, corporate restructuring, private equity and venture capital. The SWF has publically said that it expects to expand its portforlio more than 10% by 2014.
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