| National Pension Service (NPS), Korea Investment Corporation (KIC) and a South Korean insurer are considering putting a combined $370 million into a real estate fund that Cerberus Capital Management is launching to buy distressed assets in Europe, and other domestic institutions are mulling participation in the fund, pension fund and investment banking sources said on August 10.
Cerberus, a U.S. private equity firm specializing in distressed asset investments, is aiming to raise a total of $1.5 billion in the fund, the fourth of its kind, amid expectations that tightened banking regulations under the Basel III and strict asset quality reviews by the European Central Bank will continue to prod European banks to shed non-core assets to bolster their capital base...............................................Full Article: Source
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