Opening of San Francisco Office, First Overseas Expansion in 9 Years
New York and San Francisco Established as North American Investment Hubs
Chairman Kim Taehyun: "We Will Strengthen Global Investment Cooperation"
The National Pension Service (NPS) is establishing an overseas office in San Francisco, USA, to explore promising investment opportunities.
On the 5th (local time), the Fund Management Headquarters of the National Pension Service held an opening ceremony for the San Francisco office at One Bush in San Francisco, the NPS announced on the 6th.
This overseas office is the fourth, following those in New York, USA in 2011, London, UK in 2012, and Singapore in 2015, marking the first in nine years. The opening ceremony was attended by Im Jeong-taek, Consul General in San Francisco; Park Min-jung, Director of the National Pension Finance Division at the Ministry of Health and Welfare; Jenny Johnson, CEO of Franklin Templeton; John Gray, President and COO of Blackstone; Rob Speyer, CEO of Tishman Speyer; as well as over 40 representatives from global pension funds and asset management firms including the Government of Singapore Investment Corporation (GIC), Canada Pension Plan Investment Board (CPPI), California Public Employees' Retirement System (CalPERS), and California State Teachers' Retirement System (CalSTRS).
Kim Tae-hyun, Chairman of the National Pension Service, said in his commemorative speech, “We are pleased to open our fourth overseas office in San Francisco, the center of innovation and technology,” adding, “Following the government's announcement of pension reform plans, we expect overseas offices to play a crucial role in enhancing fund returns.” He also stated, “Through the San Francisco office, we will further strengthen cooperation with asset management institutions worldwide.”
The San Francisco office has been preparing for operations since July 15 and officially began its work with the opening ceremony. The office staff consists of five members, including the inaugural director Lim Seong-hwan, four investment officers, and one administrative staff member, with plans to gradually expand the workforce.
The office is located in the Financial District of San Francisco, an area densely populated with major technology companies and global investment institutions. The National Pension Service plans to leverage this geographic advantage to research the latest investment information and continuously communicate and collaborate with local global companies.
The San Francisco office will play a significant role in private equity, public equity, and real asset investments, functioning as an investment hub in North America alongside the New York office.
Additionally, during his visit to North America, Chairman Kim Tae-hyun inspected CIBC Square, a prime office in Toronto invested in by the National Pension Service, and announced that Hines, a global real estate investment company that developed the asset, has finalized plans to open a liaison office in Jeonju, Jeollabuk-do. Furthermore, Tishman Speyer, a global real estate investment company that attended the opening ceremony, is also promoting the opening of a liaison office in Jeonju to strengthen cooperation with the National Pension Service.
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