Nia Tam
The $941bn Chinese SWF will steadily expand its alternative and direct investments, the investor said in its latest annual report.
Sang-Hyun Yoo, former global alternatives head of Korea’s National Pension Service, joins Mirae Asset Daewoo as head of private equity.
The Canadian pension wants to make more direct investments and find investment partners in the Asia-Pacific region.
Moody’s analysis showed a compound annual growth rate of 55% in alternative investments by the country's insurers between 2013 and 2016.
The Australian SWF has lowered its expected return range by 0.5% for the next 10 years, as it says investors have been ‘squeezed up the risk curve’.
China’s sovereign fund is looking to make more direct deals in the US via a new outpost in New York.
%2080.jpg "Ex-NPS global alternatives chief joins Korean law firm")
Sang-Hyun Yoo, who resigned from the pension in February, has been replaced by the former alternatives head of Meritz Asset Management.
The revised investment mandate follows a federal decision to delay withdrawals from the fund for at least 10 years.
The firm will use the new outpost to cement relationships with investors in Asia, including Australia and New Zealand.
The $12.6bn Australian super fund revised its allocation to alternatives, from 13.5% to 15.8% in May.