POBA approves KRW130bn commitment

The South Korean public pension has backed a European logistics fund.

Institution: Public Officials Benefit Association
Headquarters: Seoul, South Korea
AUM: KRW12.23trn
Allocation to alternatives: 58.0%
Bitesize: $100-200m

Public Officials Benefit Association has approved a KRW130 billion ($111.2 million; €99.9 million) commitment to AXA Logistics Europe Fund, a contact at the pension confirmed with PERE.

The Korean public pension currently allocates 33.10% of its investment portfolio to real estate, with an undisclosed target allocation.

As illustrated below, POBA has made five commitments to real estate funds with a 2018 or 2019 vintage which target a range of sectors across North America and Europe.

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