National Pension Service, Jeonju, took a minority interest in San Francisco-based real estate investment management firm Stockbridge, a statement said.
The $750 billion NPS made the investment through a separate account investment program administered by alternative investment management firm Blue Owl Capital, which has $157 billion in assets under management.
The size of the stake and purchase price were not revealed in the statement.
Stockbridge manages real estate equity investments across the risk spectrum with a specialty in residential and industrial properties in the U.S. It manages $33.8 billion in assets on behalf of U.S. and foreign institutional investors.
Spokespeople for NPS could not immediately be reached for comment.