The Government Employees Pension Fund in South Africa is looking to invest ZAR25 billion ($1.6 billion) in private firms, according to a report from Bloomberg.
A joint statement from GEPF and the Public Investment Corp (ZAR2.1 trillion AuM) reveals that all investment decisions will be made by the PIC.
Financial details have not been disclosed.
The initial planned allocation was ZAR70 billion (~ $4.4 billion), however, after a judicial enquiry was launched against the PIC, the size of the allocation was reduced.
