MBK Partners has agreed to invest $2 billion in South Korean infrastructure projects, businesses and property, according to the country’s National Pension Service. The pension fund is in talks for another $3 billion deal with an unnamed US-based asset manager, Reuters reported.
South Korea’s state-run pension agency said on Thursday it had obtained private equity firm MBK Partners’ preliminary agreement to invest $2 billion in the country.
It added that it was pursuing another $3 billion inward foreign investment deal with a separate investor.
The announcement comes just a day after the pension agency unveiled a $3 billion preliminary deal from U.S.-based Oaktree Capital Management.
The National Pension Service, which manages about 230 trillion won ($165 billion), said in a statement MBK was likely to put the $2 billion into domestic investment projects such as infrastructure, companies and property.
(Reuters) South Korea-based MBK’s funds originate mostly from foreign pension and sovereign funds.
An NPS spokesman told Reuters the agency was also in the process of negotiating another $3 billion with a U.S.-based asset manager.
The deals come as South Korea grapples with the fallout from the U.S. financial crisis, with its won