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Korean institutional players to join BlackRock infrastructure fund

Collected: 2017.02.02

Distributed: 2017.02.03

Source: Go Direct

South Korean institutional investors including pension fund managers and insurers are readying to pledge 300 billion won ($259 million) in New York-based world’s largest asset management company BlackRock Inc.’s new infrastructure fund.

According to investment bank sources on Tuesday, domestic institutional players are mulling to join a new global infrastructure debt fund created by BlackRock in the scale of around $1.5 billion designed to invest in infrastructure assets across America and European continents. Investors would be invited to purchase securities collateralized by the assets for an annual return rate of around 5 to 8 percent. The fund would last for 20 years.

Infrastructure emerged as lucrative alternative asset after U.S. President Donald Trump promised $1 trillion infrastructure spending. Alternative assets pose as a safer investment option as global capital markets have been jittery on expectations for faster rises in U.S. interest rates.

By Kang Doo-soon and Song Gwang-sup

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