The AU$85 billion ($61.6 billion) Australian super fund has some exposure to indebted property developer Evergrande. Meanwhile, China’s construction finance is part of its core strategy in real estate.
The $95 billion Korean savings will set up a separately managed account for real estate debt investment early next year in order to shorten decision-making and help it win deals in a crowded market.
The hiring spree for 22 newly created positions is the largest by the Korean sovereign wealth fund since 2015. The new program includes 15 investment management openings.
Generally, however, Asian pension funds’ allocations to alternative assets demonstrated only a modest increase of 0.6% from 2019 to 2020.
The world’s third-largest pension fund announced a shake-up in how it manages overseas fixed income and private holdings to cut expenses and improve execution.
Korea Investment Corporation (KIC) and the National Pension Service (NPS) plan to enhance overseas voting rights and mandatory ESG filings for overseas companies.