South Korea’s Public Officials Benefit Association (POBA) has hired local alternatives manager KORAMCO Asset Management for a 300 billion won (US$269 million) domestic real estate mandate.
It comes just weeks after the pension fund appointed London-based AEW UK REIT plc in December for a $100 million listed real estate mandate.
The pension fund opened the tender for the domestic property mandate in November.
KORAMCO will invest the money in a blind pool fund to acquire office buildings in Seoul and the neighbouring Bundang business district in Gyeonggi province, the asset management firm says in a statement on February 2.
It says around 60% of the fund will be allocated for large office buildings, and 40% for mid-sized offices and value-added investment strategies.
Patrizia received the Best Client Service award.
In the category of mid-cap real estate GPs, Los Angeles-based
PCCP LLC was picked Best of the Best. PCCP focuses on senior and mezzanine debts in small- to medium-sized commercial buildings, as well as value-add investments.
INFRASTRUCTURE
Macquarie received the same amount of votes as Brookfield and was jointly awarded Best of the Best infrastructure manager.
Australia’s
Schroders and
Antin Infrastructure Partners was awarded Best Client Service.
Among mid-cap GPs,
Equitix was awarded Best of the Best, followed by
InfraRed Capital Partners who won Best Performance. Through the two UK investment firms, NPS, POBA and Korean insurers, including Hyundai Merchant, invested in the operator of London Orbital Motorway, or M25, as well as Britain’s High Speed 1 (HS1).
Institutional Excellence Awards 2020: Why Poba and NPS impressed
AsianInvestor explains why Public Officials Benefit Association and National Pension Service were named for our bifurcated pension category awards.
The seventh annual Institutional Excellence Awards encompassed one of the most challenging periods for investment in living memory.
Standout asset owners during this period have had to be nimble and responsive as conditions sharply deteriorated in late February and March, only to offer investment opportunities in fits and starts from April even as the global economic environment continued to struggle and a US presidential election reached its crescendo.
When choosing the winners of these awards,
Institutional Excellence Awards 2020: How GPIF, Poba and GIC stood tall
AsianInvestor reveals how Japan s Government Pension Investment Fund, Public Officials Benefit Association of Korea and Singapore s GIC stood out from their country rivals.
The seventh annual Institutional Excellence Awards encompassed one of the most challenging periods for investment in living memory.
Standout asset owners during this period have had to be nimble and responsive as conditions sharply deteriorated in late February and March, only to offer investment opportunities in fits and starts from April even as the global economic environment continued to struggle and a US presidential election reached its crescendo.
ABL Life sets sights on Australian real estate
The Korean insurer plans to “reshuffle” its property allocations in terms of geography and has particular preferences over its external manager partners.
South Korean insurer ABL Life is keen to ramp up its real estate investments and has set its sights on Australia as its preferred investment destination, in part because of the country’s favourable regulatory policies.
“We will be focusing on real estate, and we aren’t hesitant to expand real estate investments at this stage. Most Korean investors focus on, for example, the US, UK, Germany and other western European countries. But we re different. We ll be focusing on Australia,” Eoh Jiroo, ABL’s head of infrastructure and real asset investments, told