[Courtesy of the National Pension Service]
SEOUL -- In a strategy to diversify its investment portfolio, South Korea's national pension fund has formed a strategic partnership with Allianz, a German multinational financial services company, to create a $2.3 billion joint venture fund for investment in overseas real estate in Australia, China and other Asian countries.
The fund shared equally shared by Allianz and the National Pension Service (NPS), which is South Korea's largest institutional investor, will invest in landmark offices, logistics and residential facilities in major Asian cities. The fund vowed to diversify overseas investment destinations and expand its presence into Asian countries with high growth potential.
"The National Pension Service plans to strengthen mutual capabilities by sharing various investment experiences through partnerships with global leaders with a like-minded goal and ultimately step up efforts to enhance long-term profits," NPS chief investment officer Ahn Hyo-joon said in a statement.
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