Carmela Mendoza
%2080.jpg "NPS CIO set to resign")
Myoun-Wook Kang, who joined the Korean pension fund in February 2016, is leaving the firm after a wave of key personnel departures early this year.
Showcasing the importance of Asia to KKR, Joseph Bae, the man instrumental in mapping out the firm’s Asia strategy, has been named as a successor to co-founders George Roberts and Henry Kravis.
The $342bn asset manager has made its first Australia-focused hire as it looks to raise capital from the country, as well as gaining access to greater deal flow.
%2080.jpg?id=19327362324 "NPS names head of investment strategy")
Former domestic alternatives division head Lee Su-Cheol will replace Yang Young-Sig who left NPS last month.
Mumbai-based managing director Bala Naidu left the Hong Kong-based firm last month to start his own private credit business.
The $130bn Canadian pension fund is optimistic that recent structural reforms in these two countries will unleash new sources of investment.
China’s distressed debt market is opening up, providing opportunities for distressed asset managers seeking higher returns than the US debt markets are currently offering, reports PDI sister publication, Private Equity International.
The fund will also invest in opportunities in Latin America.
The firm has raised $210 million for its Strategic Opportunities Fund, which initially targeted $150 million.
The platform will buy pools of non-performing loans in several emerging markets.