A handful of Korea's institutional investors, including Hanwha Life Insurance, Hyundai Marine & Fire Insurance and the Korea Scientists & Engineers Mutual Aid Association, will acquire a 4.7-percent stake in Britain's largest energy grid operator National Grid.
An increasing number of domestic institutional investors are turning their eyes toward European markets, including Britain, as the yields from investments in American real estate and infrastructure are in decline.
According to industry sources on February 16, Hanwha Life recently invested 155 million pounds (US$193.6 million) to purchase about 2.7-percent stake in National Grid's gas network business. Hyundai Fire & Marine and the Korea Scientists & Engineers Mutual Aid Association are also set to invest 30 million pounds ($37.5 million) each in National Grid.
In sum, domestic institutional investors' combined stake in National Grid is estimated at 4.7 percent worth 285 million pounds ($355.9 million). Their investment in National Grid will be made in the form of participating in a global consortium which will purchase a 61-percent stake in National Grid for 3.6 billion pounds ($4.49 billion).
The life insurance arm of South Korea’s Shinhan Financial Group will allocate more than 90% of its assets under management to loans and bonds to earn stable interest incomes, and invest the remainder in stocks and alternative assets for higher&hellip
South Korea’s top financial regulator will cut reserve requirements by half for insurance firms’ cross-border infrastructure assets from as early as June, paving the way for domestic insurers to boost overseas alternative investments. The Financial Supervisory Service (FSS) is working&hellip
The Government Employees Pension Service (GEPS) has awarded overseas private debt fund mandates for opportunistic strategies to Apollo Global Management and Cerberus Capital Management to invest up to $160 million, according to the South Korean pension fund on March 24.&hellip