South Korea’s sovereign wealth fund Korea Investment Corporation (KIC) has appointed new heads for its private equity and absolute returns teams.
Kim Jintae now leads the absolute returns team, replacing Park Jinseong, who will helm the alternative investment strategy group, KIC says in a statement on March 2.
Kim was previously head of KIC’s CEO office. His new role was effective March 2.
Meanwhile, Song Sungjun has taken over as head of the private equity team from Lee Seungkul, who was appointed head of private equity and real estate in mid-January.
Song’s appointment, which was effective February 28, leaves Lee heading just the real estate team.
KIC had US$183.1 billion of assets under management as of December 2020.