South Korea’s pension fund to acquire stake in Metrics Credit Partner
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The news: The National Pension Service of Korea (NPS) through its strategic partnership with US-based Townsend Group has agreed to acquire 4.17% of Metrics Credit Partners.
The numbers: The partnership will acquire the stake for $50 million and proceeds will support Metric’ future growth initiatives such as potential acquisitions and the development of new investment strategies.
NPS is the third largest pension fund in the world by assets at around USD800 billion ($1.27 trillion). Townsend is a global investment management and advisory firm focused on real estate and real assets with USD237.9 billion in advised assets and USD20.9 billion in assets under management.
The context: As part of the investment, the partnership will also invest into Metrics' real estate focused investment strategies.
What they said: Metrics managing partner Andrew Lockhart said: “As one of the world’s largest pension funds, NPS, along with Townsend, a leading global real estate investment platform, will assist our future growth plans, both domestically and internationally — particularly in our real estate strategies, an area where Townsend brings considerable expertise”.
The source: ASX
