KIC’s Initiative for Joint Investment
National Pension Service (NPS) and Korea Investment Corporation (KIC) decided to make a joint investment of US$600 million in GLP Capital Partners’ US$2 billion fund for investment in the logistics and real estate sectors.
The assets under management of NPS and KIC amount to 860 trillion won and 205 trillion won, respectively. This is the first time that they make a joint investment abroad, initiated by KIC. Most of the investment will go to logistics assets in North America and logistics technology companies in that region.
The target annual return of the investment fund of GLP Capital Partners is approximately 15 percent. The scale of the investment is estimated at US$5 billion in view of acquisition financing and so on. KIC, the only sovereign wealth fund of South Korea, is expected to form multiple investment partnerships with domestic pension funds, asset management firms, mutual aid associations, and so on down the road if its investment with NPS turns out to be successful.
Established in 2019, GLP Capital Partners is headquartered in Santa Monica, California. The company was established by those who worked for global logistics investor GLP, and they achieved at GLP more than US$50 billion of deals in the logistics sectors of North America, Europe and Asia.