SOUTH KOREA - The National Pension Service is understood to be investing 250bn won ($234.3m) into a Korean-led consortium for its project to buy golfing equipment brand Titleist, according to reports.
The group, which is also thought to include the Government Employees Pension Service, reached an agreement with Fortune Brands two months ago to take over the US-based firm's golf equipment unit Acushnet for $1.23bn, the Korea Herald claimed.
Acushnet manufactures Titleist golf balls, FootJoy shoes and gloves and Scotty Cameron putters and last year posted sales of more than $1.2bn worldwide.
The NPS is the world's fourth-largest pension fund, with about 340trn won in assets under management. Earlier this year it said it aims to lift the stake of its overseas assets from around 12% to 20% by 2015.
The NPS was not immediately available for comment.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers