Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Moody's - Climate Risk Insurers series
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • March 2012
03

Korean pension fund set to invest in UK infrastructure

Open-access content Tuesday 27th March 2012 — updated 2.52pm, Tuesday 5th May 2020

The world’s fourth largest pension fund has revealed plans to open a UK base and is now expected to make major investments in UK infrastructure.

Deputy prime minister Nick Clegg announced the move yesterday following a meeting in Seoul with the chair of the South Korean National Pension Service scheme, Jun Kwang-woo.

NPS currently has $320bn under management and has ambitions to almost double its current overseas portfolio of $36bn. Opening in June, its London office will be only its second overseas base, after New York and, according to the Cabinet Office, represents a 'huge opportunity' for significant investment in UK real estate, infrastructure projects and equities.

To date NPS has already invested over £1bn in the UK over the past two years. This includes purchasing a 12% stake in Gatwick Airport worth £100m, a 50% stake, worth £85m, in 40 Grosvenor Place in London and the purchase of the HSBC headquarters in Canary Wharf, London, for £773m and 88 Wood Street in the capital for £183m.

Announcing its latest move into the UK market, Mr Clegg said: 'This is fantastic news which has the potential to bring considerable investment to the UK and create a significant jobs boost back home.

'Investment in infrastructure is a virtuous circle, growing our manufacturing and construction sectors and making Britain more attractive for further investment.'

The government was making sure investors were aware of opportunities in the UK and its long term strategy to deliver 'world-beating' infrastructure, Mr Clegg added.

Last September, plans were announced to give 40 of the UK's biggest infrastructure project special priority status and ministers have been tasked with examining projects to ensure there are no delays and blockages.

In last week’s Budget, Chancellor George Osborne highlighted the government's commitment to encouraging overseas pensions fund to invest in UK infrastructure. He also said it was working with 12 UK pension funds in a similar way.

NPS is the world's fourth largest pension fund in terms of assets under management and, according to the Cabinet Office, it is also on track to become the world's third largest in the near future.

It owns a number of landmark buildings in Europe and the US including a €278m, 75%, stake in a Paris shopping centre and has made a $1bn deal to be a 23.44% stake in Colonial Pipeline.

This article appeared in our March 2012 issue of The Actuary.
Click here to view this issue
Filed in
03
Topics
Global

You might also like...

Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Senior Catastrophe Analyst

London, England
£70000 - £100000 per annum
Reference
146055

Catastrophe Analyst

London, England
Up to £50000 per annum + + Bonus
Reference
146053

Principal Pricing Analyst

England, London
£60000 - £70000 per annum
Reference
146052
See all jobs »
 
 

Today's top reads

 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2023 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ