The National Pension Service (NPS) said on the 23rd that it signed a memorandum of understanding (MOU) with the world's largest asset manager, BlackRock, for a strategic partnership covering all asset classes.
That morning, at the agency's headquarters in the Jeonbuk Innovation City, the National Pension Service held a signing ceremony and signed an MOU with BlackRock for a strategic partnership covering all asset classes.
Like the strategic partnership the National Pension Service signed with Allianz Global Investors on the 13th, this MOU is a case of expanding the partnership to all asset classes—including stocks, bonds, multi-asset, and alternative investments—rather than limiting it to a single asset class. With this, the cooperative relationship between the National Pension Service and BlackRock has been formalized as a comprehensive strategic partnership, it said.
Founded in 1988, BlackRock is the world's largest full-service asset manager investing across diverse asset classes including stocks, bonds, multi-asset, and private markets. As of the end of last year, it managed about $14 trillion (about 2 gyeong won) in assets. More than 20,000 investment professionals are active in over 38 global offices worldwide. Since 2007, it has been entrusted with managing the National Pension Service's investment assets.
Attending the signing ceremony were Kim Sung-joo, chairman of the National Pension Service, Robert Kapito, BlackRock's president and co-founder, Hiro Shimizu, vice chairman for the Asia-Pacific region (APAC), and about 10 other officials.
Through this MOU, the two institutions plan to push forward step by step with: ▲ establishing a strategic partnership through a knowledge-sharing framework ▲ structured knowledge exchange on global macroeconomics, market trends, asset allocation, portfolio construction, and risk management ▲ exchanging views on platforms and investment infrastructure.
Chairman Kim Sung-joo said, "This MOU is the first step in a true strategic partnership in which the National Pension Service and BlackRock share investment know-how," adding, "Going forward, Jeonju will evolve into a global gateway where the two institutions put their heads together to discuss investment and innovation."
Robert Kapito, president of BlackRock, said, "This MOU is an important opportunity to further solidify a collaboration structure based on knowledge sharing," adding, "We also find it meaningful to be able to participate in the National Pension Service's long-term goal achievement process and contribute in Jeonju, which is growing into a financial hub."
Meanwhile, immediately after the MOU signing ceremony, an opening ceremony for BlackRock's Jeonju office was held in Manseong-dong, Jeonju. The Jeonju office will serve as a base supporting practical cooperation and ongoing communication between the two institutions, and is expected to back the operation of education and training programs and the expansion of strategic exchanges.