Korea’s $6.2 Billion Army Fund Seeks American CLOs in Yield Hunt
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A South Korean soldiers’ welfare fund is seeking risky U.S. debt investments and foreign property as it looks abroad for higher returns.
Military Mutual Aid Association, which manages 6.8 trillion won ($6.2 billion), is targeting such assets to help lift its overseas investments to 30 percent of holdings from 20 percent. It’s adding more U.S. collateralized loan obligations and was among a group buying German warehouses last month.