The Public Officials Benefit Association has completed the selection of its overseas private debt fund firms. The association selected two North American firms and three European ones who will manage its US$120-million debt funds.
According to industry sources on March 19, the pension fund selected five foreign companies as its overseas private debt fund operators, including Guggenheim, Medley, Alcentra, Bluebay, and Park Square.
Guggenheim and Alcentra each will be responsible for running $30-million funds, while the remaining three will manage $20 million apiece.
The private debt fund operators selected by POBA are engaged mainly in investment in senior secured loans that are relatively safe investment options offering an annual yield of about 5 percent. The association has increased its private debt fund investment in recent years, including the $100-million investment in June 2016.
POBA officials said, "Private debt funds can generate higher yields if the U.S. benchmark interest rate continues an upward trend."
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
HI Investment & Securities Co. Ltd., an affiliate of South Korean shipbuilder Hyundai Heavy Industries Co. Ltd., has established an offshore aircraft leasing company to buy two used Boeing 777-300ER aircraft from a Chinese leasing firm for $209 million, jointly&hellip