01 Jul Korea’s National Pension Service enters into a joint venture with global asset manager Allianz
South Korea’s National Pension Service (NPS) has set up a 2.8 trillion won (US$2.3 billion) joint venture with global asset manager Allianz to invest in overseas real estate.
The joint venture, will invest in countries including Australia, Singapore, China and Japan and will target landmark office buildings, logistics centres and residential properties in major urban areas that have the highest potential for growth. The NPS is one of major pension fund operators in the world with assets under management reaching 737.4 trillion won ($599 billion) as of February this year.
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