Korea Investment Corp (KIC), South Korea’s sovereign wealth fund, is exploring a sale of private equity investments worth more than $1bn as institutional investors continue to turn to the secondary market to rebalance portfolios and generate liquidity, according to a report by Bloomberg.
The reports cites unnamed people, familiar with the matter as saying that KIC has appointed investment bank PJT Partners to advise on the potential transaction. The discussions remain at an early stage though, and the assets involved, transaction structure and eventual size could change, the sources said.
PJT Partners reportedly declined to comment, while KIC reportedly did not immediately respond to requests for comment.
KIC managed approximately $232bn of assets at the end of 2025 and reported a 10-year annualised return of 7.07%. More than 78% of its portfolio was allocated to traditional asset classes including equities and fixed income, with the remainder invested across alternatives such as private equity and real estate.
A sale of more than $1bn in PE interests would allow KIC to rebalance part of its alternatives portfolio while providing buyers with exposure to an existing pool of private equity investments without having to commit capital directly to new primary funds.
