South Korea’s National Pension Service (NPS) has been able to cover gaps in its alternative investment divisions by hiring 10 additional fund managers in a recruitment drive, but it still failed to fill three key positions. 

Managers were hired for divisions handling Asian private equity and venture investment, European private equity and venture investment, Asian real estate investment, Asian infrastructure investment, U.S. infrastructure investment, and European infrastructure investment, Newsis reported on Friday (June 19). Six of the 10 will work on alternative investments.

However, the recruitment drive, which was the first this year by NPS, did not secure managers for the overseas stock external management department, U.S. infrastructure investment department and securities risk management department.

The NPS divides its alternative investment divisions into a private equity venture investment office, real estate investment office and infrastructure investment office, and these are again divided into Asian, U.S and European teams. It is believed that about 60 people are working in the alternative investment department. 

The recruitment added three to the infrastructure investment office, two to the private equity venture investment office, and one to the real estate investment office. 

There were 113 applicants for the first round of recruitment. (Reporting by Hyewon Chang)