Korea Teachers Pension names CIO

David Park will replace Min Ho Park who stepped down from his position at the Korean pension fund at the end of last year.

South Korean pension fund manager, Korea Teachers Pension Fund (KTP), has brought on board David Park, former chief investment officer at Allianz Life Insurance, to serve as its chief investment officer (CIO).

Prior to joining KTP, Park worked as the CIO of Allianz Life Insurance in Korea from 2006 to mid-2016. Prior to this he also worked as an investment specialist in Samsung Investment Trust Management, HDC Asset Management, and the Korea Federation of Community Credit Cooperatives, according to a report from Asia Asset Management.

David Park started the role at the beginning of January after his predecessor, Min Ho Park’s stepped down from his role at the end of 2016. David Park is expected to be in the role for the next two years.

KTP confirmed the appointment but declined to comment further.

The $12 billion pension fund has been increasing its exposure to international and in particular, it has been actively increasing its allocation to alternative investments where the ratio has increased from around 16 percent in 2015 to more than 20 percent of its portfolio in 2016.

For instance, the pension fund committed $100 million back in September to Crescent Mezzanine Partners Fund VII, a fund launched by US-based private debt investment manager Crescent Capital Group.