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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

KIC, LOFA to jointly invest $130 mn in 7 U.S. hotels

Posted on 29 November 2016

South Korea’s sovereign wealth fund Korea Investment Corporation (KIC) will invest 153 billion won ($130.8 million) in seven hotels in major cities in the United States with Local Finance Association (LOFA) on expectations for growth in the U.S. economy under the new U.S. administration in 2017.
According to multiple sources from the investment bank industry on Monday, KIC and LOFA, a provider of financial aid to local governments in Korea, have decided to jointly invest 153 billion won in seven hotels in major U.S. locations including Arizona, California and Texas………………………………………..Full Article: Source


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