Government Employees Pension Service
Government Employees Pension Service (GEPS) is a pension fund for South Korean government employees, with AUM of 8.9 trillion won ($8 billion) as of the end of 2019. Its asset allocation breaks down into fixed income at 42.2%, equities at 31.5% and alternatives at 18.6%. Alternative investments are comprised of various asset classes, including private equity, private debt, real estate and hedge funds. Since inception in 1982, its annualized return averaged 6.5% as of the end of 2019.
Chief Investment Officer
Alternative Investment Division
Noh Seung-hwanHead of Alternative Investment
Noh started his career at Korea Postal Savings & Insurance Development Institute (POSID) as a full-time researcher. He moved to the private sector as an Alternative Investment Manager at Samsung Securities and also took corporate financing and general account management roles at DB Insurance. At GEPS, Noh oversees the alternative investment arm of the organization including Special Asset Management Team, Corporate Financing Team, and Real Assets Team. His specific roles include domestic and global alternative investment strategy formation, investment activities in real estate, infrastructure, real assets, hedge funds, and PE areas, and selection of alternative asset management firms.
Lee Jin-youngHead of Real Assets Team
Lee spent most of the career at GEPS focusing on PEF and real estate investment as well as financial risk management. Lee also headed the Special Assets Team that invests in multi asset funds and hedge funds prior to the current role as the Head of Real Assets Team.
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