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Korean asset manager Woori partners with EIG, Posco for PE fund

2 Aug 2012

Korean asset manager Woori has partnered with domestic steelmaker Posco and US-based EIG Global Energy Partners to launch a natural resources-focused private equity fund.

Woori Asset Management established the Posco Woori EIG Global Fund in February this year with KRW560bn ($495m) of assets, according to a filing with the US Securities & Exchange Commission.

The vehicle has also received a commitment from NPS, South Korea’s $320bn state pension fund, Asian Investor reported on Thursday.

Woori will serve as the general partner of the vehicle and has committed 0.5 per cent of capital. The firm will continue to seek outside investors to commit to the fund.

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