Heungkuk Life puts PE investments on hold

Korean life insurance stops PE investments due to a new accounting policy.

Heungkuk Life Insurance expressed that it is not investing in private equity funds in order to prepare for the new accounting standard, IFRS9.

Additionally, it will be very selective in making alternative investments and co-investments, but still open to new yield pickup opportunities in both domestic and overseas markets.

The current AUM of the Heungkuk Life is $22 billion.

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