South Korea's 726 trillion won ($602.8 billion) National Pension Service, Jeonju, selected five domestic buyout firms to manage a combined 800 billion won in private equity allocations.
An NPS news release Tuesday said the five Seoul-based firms selected for the contracts were: Glenwood Private Equity, which has $934 million in assets under management; IMM Private Equity, which has $4.9 billion in AUM; JKL Partners, which has $1.24 billion in AUM; Skylake Investment Co., which has $2 billion in assets; and Macquarie Korea Asset Management Co. Macquarie Korea's assets could not be learned.
How the allocation was split was not available.
Growing allocations to alternatives will help NPS to "achieve long-term stability and improve returns on investment," Ahn Hyo-joon, chief investment officer, said in the release.
