New York-based Select Equity Group joined the roster of the National Pension Service’s (NPS) global alternative investment companies as a single-manager hedge fund house in the first quarter, according to the NPS’ recent announcement.
Including Select Equity, the number of the NPS’ single-manager hedge fund managers has increased to five, separate from two hedge fund investment companies which manage funds of funds for the South Korean pension plan.
Select Equity Group manages over $20 billion in assets across long/short and long-only equity strategies.
As part of efforts to boost overseas and alternative investments, NPS reorganized its alternative investment division last year by asset class into real estate, infrastructure and private equity subdivisions, instead of dividing them between domestic and overseas investments.
By Jung-hwan Hwang
<Edited by Yeonhee Kim>