National Pension Service of Korea (NPS)

The investor will be especially cautious on new development but is more open to it in alternative sectors, with an eye toward the US.

By forming a £1bn multifamily joint venture with M&G, the Korean pension giant has stamped the institutional seal of approval on the UK housing sector.

The pension fund has partnered with the UK manager to fund the development of 3,000 rental homes over the next three years.

PERE America Forum participants discuss how the convergence of property and other asset classes has created new opportunities – and new problems.

Henrik Brinck Landelius’s resignation is unrelated to NPS’s purchase of a minority stake in the Swedish manager two weeks ago, an official said.

The Korean pension fund’s head of real estate said the investor is seeking to evolve from a ‘market chaser’ to a ‘market changer.’

The pension fund added at least 10 new funds and direct investments to its real estate portfolio last year.

The vehicle’s capital sources are split between Asian family offices and institutional investors that include the South Korean pension fund.

Capital allocators’ demand for bespoke vehicles means attracting capital to traditional commingled funds remains tough.