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Korea fund looks to overseas alternatives
18 December 2013
The Korean Government Employees Pension Service has chosen Towers Watson to help diversify its portfolio
Towers Watson has been appointed to help a major Korean
public pension fund invest in overseas alternative
Korea's Government Employees Pension Service (GEPS), which
provides retirement benefits to more than one million
government employees, has expanded its asset allocation to
include overseas real estate, private equity and hedge funds.
However the fund has yet to invest in overseas alternative
assets on a "meaningful scale".
Towers Watson will use its global experience to review new
investment opportunities and potential investment managers for
The firm will also share its investment knowledge and
capabilities; provide research and analysis of new strategic
investment opportunities, support the fund's internal teams in
accessing these opportunities by assessing potential investment
managers; and assist in the due diligence process.
Jayne Bok, head of sovereign advisory for Asia at Towers
Watson, said: "We are delighted to be selected as GEPS' partner
and are excited about the prospect of helping them to achieve
their investment goals, as well as extending their global
"Korean sovereigns are keen to better understand their global
peers, but the reality is that in doing so these organisations
face genuine time and resource constraints. However, we are
very experienced globally in complementing internal investment
teams and are used to having a proactive role, which is
particularly advantageous in the fast-moving world of investing
in alternative assets."