After a year of preparation, South Korea’s $430 billion National Pension Service (NPS) is ready to take its first step into the world of hedge funds.
The NPS has apparently allocated $870 million — or 0.2% of its projected $490 billion year-end capital — for the initiative, and plans to invest it in funds of hedge funds next year in order to “minimise risks and develop investment know-how.” It will also be hiring five people to handle the allocations, with three of the five doing so in-house according to the Financial Times (paywall).
The move apparently comes after much preparation — a special task force was created last January to look into the pension’s imminent hedge fund investments.
Whether or not Elliott Management made their short list however is unknown at the moment
Photo: 드림포유
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