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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

KKR Joins Sovereigns Seeking Seoul Skyline Yields

Posted on 26 June 2014

KKR & Co. bought an skyscraper in downtown Seoul, within walking distance from blocks owned by wealth funds of Azerbaijan and Singapore, as falling bond yields and a revived economy spurs a search for higher returns.
The private-equity firm run by Henry Kravis and George Roberts acquired the K Twin Towers in Seoul this month, after Azerbaijan’s state oil fund spent $447 million for a building in April. Seoul office prices rose 11 percent in the year to April 30, with yields of 5.67 percent, according to Real Capital Analytics Inc. Five-year sovereign yields fell almost half a percentage point to 2.9 percent in 12 months………………………………………..Full Article: Source


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