South Korea’s National Pension Service (NPS) and the Korean Teachers’ Credit Union (KTCU) will each invest up to $100 million in a blind fund formed by U.S. private equity fund firm Thoma Bravo, local newspapers reported on November 1.

They will be participating in Thoma Bravo Flagship Fund XIV, a buyout fund focused on technology and software sectors by the Chicago-based PEF, according to the reports.

However, the investment industry expects that the NPS and KTCU will only be able to invest between $70 million and $100 million respectively, as other foreign investors are also showing keen interest in the blind fund.

Thoma Bravo is a standout in buyout fund management for its strong track record on investments in the technology and software sectors, which is attracting interest from pension funds around the world. (Reporting by Kyoungho Lee)

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