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Thai government turns to Capital Dynamics

UK fund-of-funds manager Capital Dynamics has won a mandate to advise the Government Pension Fund of Thailand (GPF) on its private equity programme.

The GPF currently has no exposure to private equity outside its home nation despite having assets in excess of US$10bn. The fund has allocated 3% of its assets to international private equity, which it aims to build-up over the next three years under the advisement of Capital Dynamics.

John Gripton, managing director at Capital Dynamic, said: “We are delighted to have won this highly prestigious mandate from the Government Pension Fund of Thailand despite the difficult market conditions. This is a sophisticated investor with an excellent reputation in Asia and Capital Dynamics appointment is a terrific endorsement of the outstanding service that we offer pension funds in developing their private equity portfolios. The size of the allocation as a first time investor in private equity demonstrates a serious commitment to the asset class at an interesting point in the financial markets’ cycle.”