Korea’s NPS Commits 375 Million to Natural Resource and Power PE Fund

Toronto-based Sprott Consulting LP, the private equity unit of Sprott Inc., has been awarded a mandate to co-manage a 10-year US$ 375 million private equity fund by Korea’s National Pension Service (NPS). The NPS has more than US$ 380 billion in assets, making it the third largest pension fund on the planet. The other asset manager will be Woori Asset Management, the asset manager of Korea’s biggest bank. The fund mandate will target private equity investments in global natural resources and power sectors.

A matching US$ 375 million co-investment commitment will be provided by state-owned Korean Electrical Power Company (KEPCO). KEPCO is the principal electric utility on the Korean peninsula, responsible for 93% of all of South Korea’s electricity generation.

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