Korea's NPS commits to Blackstone's ESG credit platform

The pension fund is aiming for portfolio diversification via the platform; the commitment size was not disclosed

Ahn Hyo-joon, CIO of the National Pension Service of Korea
Ahn Hyo-joon, CIO of the National Pension Service of Korea
Jun-Ho Cha 1
Aug 25, 2022 (Gmt+09:00) chacha@hankyung.com
Pension funds
The National Pension Service (NPS) of South Korea, has committed capital to Blackstone Credit’s Sustainable Resources Platform to enhance the pension fund’s ESG strategies, the world's third-largest pension fund said on Thursday. 

The platform was launched in January, focusing on investing in and lending to renewable energy companies and those supporting energy transition and climate change solutions.  

The platform invests across the credit spectrum in investment grade and non-investment grade credits and preferred and convertible securities. The target sectors include residential solar and home efficiency, renewable electricity generation and storage, energy transition, decarbonized transportation and green financing.

Blackstone Credit was launched in 2008 as Blackstone acquired GSO Capital Partners. The credit investment unit manages $25 billion in assets worldwide, operating 14 global offices.

“NPS has decided on the commitment after deep, careful consideration of our portfolio diversification and new investment strategies,” NPS Chief Investment Officer Ahn Hyo-joon said. “We expect our investment returns to be boosted by the credit investment platform,” he added.

Write to Jun-Ho Cha at chacha@hankyung.com
Jihyun Kim edited this article.
#National Pension Service Korea #Blackstone Credit Sustainable Resources Platform #NPS Korea #Blackstone ESG fund #Korean institutional investor #Korean limited partners #Korea ESG investment

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