Nuveen, the $1.3 trillion global asset manager, has collaborated with the Government Employees Pension Service of South Korea (GEPS) on a $100 million private capital mandate.
GEPS has deepened its commitment to international diversification by selecting Churchill Asset Management, Nuveen’s US private capital specialist, for the investment. This strategic commitment focuses on U.S. junior capital and private equity solutions as GEPS seeks to enhance its global portfolio.
In support of this mandate, TIAA, Nuveen’s parent company, signed a Memorandum of Understanding (MOU). It outlines plans for the organisations to maintain a close cooperative relationship and alignment in providing educational programs, sharing investment knowledge and insight, networking with local organizations and sharing data.
The signing ceremony was held at GEPS’s Seoul office and attended by senior executives from Nuveen and GEPS.
Mike Perry, Head of the Global Client Group and Global Product at Nuveen, said: “This mandate with GEPS marks another significant milestone for Nuveen and TIAA in the region as we continue to see growth in this strategically important market. It also underlines the importance of our presence on the ground here in Seoul and our commitment to finding mutually beneficial partnerships.”
Business News Asia
