KIC: Back in Action

Ashby Monk

The Korea Investment Corporation’s prospects are looking up, as it will be receiving roughly $5 billion dollars in additional capital in the coming months:

  • $3 billion will come from the SK government so as to enable the KIC to resume its overseas investing.
  • The Ministry of Finance will be allocating another $2 billion later this year in a bid to improve returns on reserves.
  • This will take the assets under management up to around $30 billion.

The KIC is apparently out of the penalty box. After its $2 billion investment in Merrill Lynch went sour, it basically decided to withdraw and regroup. This new injection of cash is a sign that they are ready (and the government trusts them) to start investing again. Indeed, $1 billion of the new capital is reported to be heading into high-risk assets:

“(KIC) is studying a variety of investment options, including leveraged buyouts, distressed assets purchases and venture capital…”

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This website is a project of Professor Gordon L. Clark and Dr. Ashby Monk of the School of Geography and the Environment at the University of Oxford. Their research on sovereign wealth funds is funded by the Leverhulme Trust and The Rotman International Centre for Pension Management.

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