NPS named preferred bidder for £1.3b HQ in London

South Korea–based National Pension Service has recently been named a preferred bidder to acquire Goldman Sachs’ new headquarters building in London for approximately £1.31 billion ($1.7 billion), according to Korea Economic Daily.

When closed it would be the largest-ever overseas property purchase by NPS. And it will be the fourth transaction with a £1 billion ($1.3 billion) price tag bought by an Asian investor, following CK Asset’s £1 billion purchase in June of UBS London headquarters, 5 Broadgate; Lee Kum Kee Group’s £1 billion purchase in 2017 of London’s landmark Walkie Talkie building; and CC Land Holdings’ £1 billion purchase in 2017 of the “Cheesegrater”, the tallest building in the City of London.

And separately, Hyung-Don Choe, NPS’ global private equity head, was promoted to lead the pension fund’s global alternative investment division, a role he has held as acting head for more than a year. In addition, Hyeong-Ju Lim, team head of global equity investment outsourcing, was promoted to chief of NPS’ global public market division.