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Heung-Sik Choo Ranks #5 on Public Investor 100-2015

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Heung-Sik Choo

Heung-Sik Choo

SWFI Staff has released the Public Investor 100. He ranks 5 out of 100 for the SWFI Public Investor 100 – 2015.

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Heung-Sik Choo, the Korea Investment Corporation’s chief investment officer, faces a daunting task of deploying capital in a growing Asian sovereign wealth fund. The KIC has even pondered accepting third-party capital from other Korean institutions, an option that would push the institutional investor closer to Korea’s National Pension Service in terms of investment style. Under Choo, the KIC has taken an approach to try to manage more assets in-house, while seeking out leading alternative firms for manager allocation. During the early KIC years, the wealth fund made some direct investment blunders. The private equity fund investments fared better than the direct investments. The calculating Choo clearly has a grasp on the need of sourcing alpha-generating alternative and co-investments. To that end, the KIC wants to partner more with other wealth funds, pensions and private equity managers in collaborative deals. In 2014, with the help of the Korean government, the KIC launched Co-investment Roundtable Of Sovereign And Pension Funds (CROSAPF), a member-driven event platform to bring asset owners and alternative managers together. Although similar to IFSWF meetings, CROSAPF focuses more on deal flow.

Heung-Sik Choo is a fixture in Korean government finance circles. The mild-mannered financial wizard started with the Bank of Korea in 1982, moving up the ranks. Choo had a small stint at the World Bank, lending him greater exposure to other government financial processes. He then came back to the Bank of Korea, eventually reaching the role of head of reserves management. In 2012, during his job at the Bank of Korea, Choo was keen on diversifying Korea’s foreign exchange reserves. He remembered the monetary crisis of 1997. His career has been a standard in what to do right ever since.

SWFI First Read, June 19, 2018

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Denholm to Lead as CIO of Solutions Unit at Aviva Investors

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CalPERS Reveals More of New Private Equity Model

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The California Public Employees’ Retirement System (CalPERS) is a major U.S. pension player in private equity.

CalPERS is keen on using this direct model to better source and take advantage in private equity to meet its goal of a 10% target, while lowering fees. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CalPERS Commits $5 Billion Toward US Enhanced Equity Strategy

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The California Public Employees’ Retirement System (CalPERS) moved US$ 5 billion toward an internally-managed U.S. enhanced equity strategy. This falls under the global equity bucket at CalPERS.

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