Swiss investment manager Partners Group has been awarded a mandate by the sovereign wealth fund Korea Investment Corporation (KIC).
The mandate will see Partners invest in the private equity secondaries market on behalf of the US$20bn fund. The investments will be run from the four offices Partners has in the Asia-Pacific region.
The KIC, which was set-up in 2005, has been looking at increasing its exposure to foreign alternative assets. According to a Reuters report, Lee Dong-ik, who leads KIC’s alternative investment team, said in June the organization is looking to spending US$1bn
in the second half of the year in private equity secondary markets, hedge funds and commodities.