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POBA approves $150m commitment

The South Korean public pension fund has backed Brookfield's real estate secondaries fund.

Institution: Public Officials Benefit Association
Headquarters: Seoul, South Korea
AUM: 16.36 trillion won
Allocation to alternatives: 58.1%

Public Officials Benefit Association has approved a commitment of $150 million to Brookfield Asset Management’s Real Estate Secondaries Fund, a contact at the South Korean public pension informed PERE.

As illustrated below, the majority of the pension’s recent private real estate fund commitments have focused on core and core-plus strategies across North America and Europe. It has a 33.6 percent target allocation to private real estate. Its current allocation to the asset class is 29.7 percent.

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