MMAA approves a $40m commitment

The South Korean military pension scheme backs Oaktree's fund to invest in distressed opportunities.

Institution: Military Mutual Aid Association
Headquarters: Seoul, South Korea
AUM: KRW10.8trn
Allocation to alternatives: 46.6%

Military Mutual Aid Association (MMAA) agreed to commit $40 million to Oaktree Capital Management’s second special situation fund.

Apart from MMAA, Taiwanese insurer, Cathay Life Insurance, and other US public pension funds, including Minnesota State Board of Investment and Teacher Retirement System of Texas, also committed to this $1.75 billion fund.

The fund makes between $20 million and $100 million of investments in distressed companies.

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