The total number of organizations within the body is 31 including China Investment Corporation (China), the Abu Dhabi Investment Authority (the United Arab Emirates), Temasek Holdings and GIC Private Limited (Singapore), Government Pension Investment Fund (Japan), and the Asian Development Bank. (image: Kobizmedia/ Korea Bizwire)
SEOUL, Sep. 7 (Korea Bizwire) – A government-led investment consultative group called the “Co-investment Roundtable of Sovereign and Pension Funds” (CROSAPF) that encompasses sovereign wealth funds, pension fund firms, and global public funds will be formed soon.
Hosted by Korea Investment Corporation, a sovereign wealth fund, and sponsored by Korea EximBank, CROSAPF is Korea’s first global-level co-investment consultation body.
The total number of organizations within the body is 31 including China Investment Corporation (China), the Abu Dhabi Investment Authority (the United Arab Emirates), Temasek Holdings and GIC Private Limited (Singapore), Government Pension Investment Fund (Japan), and the Asian Development Bank. Its total assets under management will be about 5.5 trillion won.
Korea Investment Corporation said on September 4 that it would hold the first CROSAPF meeting on the 11th and 12th at the Grand InterContinental in Seoul’s Gangnam.
At the meeting, an agreement among participating organizations is to be signed, with presentations on joint investment success cases and outlooks on alternative investment presented by asset management firms.
A Korea Investment Corporation official said, “This will be the place to exchange information between general partners such as sovereign wealth funds and pension funds and limited partners including private equity funds, investment banks, and asset management firms.”
CROSAPF will in the future hold annual meetings hosted by countries of participating organizations, with working committee meetings to be held several times a year to discuss investment strategies.
By Sean Chung (schung10@koreabizwire.com)
