Korea’s NPS buys partial interest Stockbridge

National Pension Service of Korea (NPS), the world’s third-largest pension fund with more than $750 billion in assets (as of Aug. 31, 2023), has acquired a partial interest in San Francisco-based Stockbridge.

NPS is investing through a separate account investment program administered by Blue Owl.

Concurrent with NPS’s investment, Stockbridge reorganized its two business units, Core and Value Advisers (CVA), and its Platform Business under common ownership and alignment structures. As part of the reorganization, Stockbridge will establish new firm-wide equity and incentive programs for a broad group of senior leadership.

“NPS is an ideal partner to support the continued growth of our firm,” said Terry Fancher, Stockbridge’s founder and CEO. “NPS’ investment in Stockbridge will assist us in completing our corporate reorganization and provide new capital for our continued growth while allowing us to execute independently.’’

Sol Raso, execut