THE KOREA ECONOMIC DAILY, GLOBAL EDITION

The Public Officials Benefit Association has awarded $150 million private equity mandates to TPG Capital (for buyout/growth strategy), London-based Coller Capital (for secondaries) and Paris-based Ardian (for co-investment), according to a local media report.

POBA will commit $50 million to each of them, or the equivalent amount in non-dollar currencies, edaily said on July 16, citing unnamed investment banking sources.

Capital deployment timing has yet to be decided, but the selected investment houses need to raise at least 60% of their target fund amount within one year from the date they were notified of the selection result.

POBA has been increasing allocations to global private equity funds since 2015. It has already committed close to $400 million to PEFs so far this year, surpassing the $300 million for the whole of last year and $200 million in 2016, according to the online news outlet.

Edited by Yeonhee Kim