S.Korea's NPS opens fourth overseas office in Silicon Valley
Jung-hwan Hwang
5 HOURS AGO
National Pension Service Chairman Kim Tae-hyun speaks at San Francisco office South Korea's National Pension Service (NPS), the world's third-largest pension fund, opened an office in Silicon Valley, San Francisco, on September 5.
The new office in the One Bush Podium building in downtown San Francisco marks NPS's fourth overseas branch after New York, London, and Singapore.
It will serve as a hub for the fund's alternative investments on the US West Coast and facilitate direct investments in the tech sector.
NPS plans to create a dedicated tech-sector team at the San Francisco office to expand new strategies, including venture capital and growth capital investments.
The office currently has a staff of five, handling private equity, stocks, and real estate investments, with plans to add five more employees.
The pension fund's move into Silicon Valley reflects its strategy to increase exposure to the booming tech industry and tap into the region's innovative ecosystem.
California, home to 57 Fortune 500 companies, is the economic and financial center of the US West Coast.