THE KOREA ECONOMIC DAILY, GLOBAL EDITION

The Public Officials Benefit Association (POBA) has picked three global private equity firms as follows to commit $50 million to their blind-pool funds apiece, the South Korean retirement fund said on Oct. 2.

In July, it issued a request for proposal for the $150 million private equity investments.

Last year, Ardian, with $96 billion of assets under management, won a $50 million mandate from POBA for co-investment strategy.

The French investment company also received a $100 million mandate from Korea Post for secondaries investment in July.

POBA invests 54% of its $11 bilion assets in alternative assets and has been investing in global private equity funds since 2015.

By Hyun-il Lee

hiuneal@hankyung.com