The National Pension Service has gained exposure to timberland and the European mid-market tech sector in the first quarter of this year, adding two British investment firms -- Apax Partners and Stafford Capital Partners -- as its new outside managers, according to its recent public disclosure.
The South Korean pension scheme is believed to have committed between $200 million and $300 million to Apax Partners' 10th flagship fund that raised $11 billion at the final close.
The UK private equity firm specializes in mid-market technology companies. Since its foundation in 1969 as a venture capital firm, Apax has expanded into the realm of buyout and growth-stage investments.
During the first three months of the year, the world's third-largest pension fund has made new alternatives investments worth 3 trillion won ($2.7 billion) to a total of 93.9 trillion won as of the end of March, compared with 90.7 trillion won at the end of last year.