South Korea’s major public institutions and sovereign wealth fund are expected to join a blind fund of U.S. private equity firm Hellman & Friedman LLC focused on corporate investments in new growth with a combined $500 million commitment.
According to sources from investment banking industry on Sunday, National Pension Service (NPS), South Korea’s largest and the world’s third-largest pension fund, and sovereign wealth fund Korea Investment Corp. are studying to each invest $200 million in H&F’s tenth flagship fund capped at $22 billion.
The Korean Teachers’ Credit Union (KTCU) with second largest assets will likely follow suit with $100 million. Founded in 1984 in San Francisco, H&F is a leader in corporate buyouts with $52.6 billion assets under management.
Earlier nine funds generated gross internal rates of return of 30 percent per annum.
KIC participated in H&F’s Fund IX as the first Korean institutional investor. NPS and KTCU would be joining the first time.
Hellman & Friedman Capital Partners X, a blind-pool fund launched by H&F, is expected to make about 15 investments of up to $4 billion into North American and European firms. Its target sectors will be software, internet and media, financial service and healthcare.
Source: Pulse News
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