South Korean investment company Public Officials Benefit Association (POBA) has invested 130 billion won ($112 million) in AXA Logistics Europe, a $1.6 billion fund managed by AXA Investment Managers, news reports have revealed.
The AXA Logistics Europe Fund has a portfolio of 73 assets spread across six countries.
According to The Korea Economic Daily, Gyeong-Ho Han, CEO of POBA, revealed the pension association plans to invest in the fund ahead of the commitment at a press conference in Seoul on Jan. 2. He noted POBA would become the only Asian investor in the fund.
POBA invests in logistics assets via co-investments and joint ventures and had 14.1 trillion won ($12 billion) of assets under management at the end of 2019.
