June 29, 2020 / 1:03 AM / 5 days ago

S.Korea pension signs $2.3 bln JV with Allianz to expand overseas property investment

SEOUL, June 29 (Reuters) - South Korea’s National Pension Service (NPS) said on Monday it signed a $2.3 billion joint venture with Allianz Group to increase real estate investment in major cities across Australia, Singapore, Japan and China.

The world’s third-largest pension fund said it will increase investment in high-growth countries in Asia to continue to diversify its portfolios.

Reporting by Yena Park and Cynthia Kim; Editing by Tom Hogue

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