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Sovereign wealth funds

KIC names new private equity, absolute return heads

Mar 03, 2021 (Gmt+09:00)

Note: The senior management reshuffles between January and early March 2021 affected the three posts highlighted above. Graphics by Jerry Lee
Note: The senior management reshuffles between January and early March 2021 affected the three posts highlighted above. Graphics by Jerry Lee

The Korea Investment Corporation (KIC) has named new heads of its private equity and absolute return groups this week, following the replacement of its real estate group head in January.

The three posts had been held concurrently by the sovereign wealth fund's senior alternative investment managers until early this year.

Song Sungjun is now heading the private equity group. Prior to taking over the role, he worked in the KIC's New York office and handled PE investments. His predecessor as PE group head concurrently led the real estate group between late December of last year and mid-January. 

Kim Jintae, who had served as CEO office head between January and February of this year, was named as head of the absolute returns group in charge of hedge fund investments. His predecessor Park Jinseong led the group between late December 2020 and February. Park is now able to concentrate on his role as alternative investment strategy group head.

KIC Chief Executive Choi Heenam during an online news conference in February 2021
KIC Chief Executive Choi Heenam during an online news conference in February 2021

“After this management reshuffle, our group heads no longer hold concurrent roles. Our organizational reshuffling is now practically complete,” said a KIC official.

The recent senior management reshuffles also affected the post of CEO office head, as follows:

Title Name Announcement Date
Private Equity Group head Song Sungjun Feb. 28
Absolute Returns Group head Kim Jintae Mar. 2
Real Estate Group head Lee Seungkul Jan. 15
CEO Office head Yoon Donghwan Mar. 2

By Seon-Pyo Hong

rickey@hankyung.com 

Yeonhee Kim edited this article.

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