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Leading Sovereign Wealth, Pension Funds Visit Korea for CROSAPF Launch
Korean Initiative
Leading Sovereign Wealth, Pension Funds Visit Korea for CROSAPF Launch
  • By matthew
  • September 3, 2014, 07:38
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Top management of major sovereign wealth funds and pension funds will visit Korea on Sept. 11 for the launching ceremony of the Co-investment Roundtable of Sovereign and Pension Funds (CROSAPF). The visitors include Temasek President Gregory Curl, French CDC CEO Laurent Vigier, Russian Direct Investment Fund (RDIF) CEO Kirill Dmitriev, and many more.

The CROSAPF is an organization led by the Korea Investment Corporation (KIC). The launching ceremony will be held on Sept. 11 and 12 at the Grand Intercontinental Hotel in Seoul. During the ceremony, a conference will take place under the topic of co-investment of public funds, and fund management firms both at home and abroad will make presentations regarding realty and infrastructure investment and joint investment in Korea.

The CROSAPF has 31 members from 17 countries, including all of the global top 10 sovereign wealth funds such as Norway Bank Investment Management (NBIM), China Investment Corporation (CIC), Abu Dhabi Investment Authority (ADIA), Government of Singapore Investment Corporation (GIC), and Qatar Investment Authority (QIA). Major pension funds like the Government Pension Investment Fund (GPIF) of Japan, CDC of France, Australia’s Future Fund, and Korea’s National Pension Service participate in it, too.

The total working capital of the members is approximately US$7 trillion, which is equivalent to six times Korea’s GDP. The World Bank, the European Bank for Reconstruction and Development (EBRD), and the Asia Development Bank (ADB) will join the organization as observers as well.