GLOBAL - The US$10bn government pension fund of Thailand (GPF) has selected Capital Dynamics to advise it on its global private equity investment program.
The GPF has not invested in private equity outside Thailand so far. However, it is a long-standing and significant domestic private equity investor.
Capital Dynamics role will be to advise GPF on the implementation of the program. GPF is looking to build a select portfolio of global private equity investments.
Katharina Lichtner, managing director and head of research, Capital Dynamics, said: "The program will build a fully diversified portfolio, but the detailed asset allocation is still being discussed.
"The reason to phase the program over three years is to gain vintage-year diversification apart from any geographical diversification, whose details are also still being discussed."
John Gripton, managing director, Capital Dynamics, said: "The size of the allocation as a first time investor in private equity demonstrates a serious commitment to the asset class at an interesting point in the financial markets' cycle."
The GPF, which is the largest pension fund in Thailand, is the first to expand its private equity portfolio internationally.
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