Korea National Pension Service & Hines create JV

The KOREA NATIONAL PENSION SERVICE and real estate investment group Hines have formed a US$1.5 billion equity joint venture in real estate.

The venture will pursue urban infill developments across a broad span of sectors including mixed-use, residential, office and logistics in high-barrier-to-entry markets globally.

The NPS is one of the world’s largest pension funds, with around US$672 billion in assets. It manages funds investing in financial investment assets both domestic and global, while diversifying the investment portfolio into equities, fixed income and alternative asset classes including real estate, private equity and infrastructure.

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