*This article was first published on Signal, the Seoul Economic Daily's capital markets newsletter, at 09:47 on April 3, 2026.*
The National Pension Service (NPS), the world's third-largest pension fund, announced Thursday that it plans to select managers for domestic venture funds to effectively execute alternative investments and enhance returns.
The annual allocation for such mandates had typically been capped at 200 billion won ($140 million), but the scale has been significantly expanded in consideration of the improved venture investment environment, including the launch of the National Growth Fund.
The NPS applied relaxed standards on restrictions against key investment personnel holding concurrent roles — a regulatory change the venture capital industry had long requested. The move is interpreted as an effort to contribute to revitalizing domestic venture investment.
Proposals will be accepted from Thursday through April 23. Candidate firms that pass an internal review and on-site due diligence will undergo an oral examination by the fund manager selection committee, with final selections expected in June.
"Through this venture fund manager selection, we will further strive to diversify the NPS fund's alternative investment portfolio and enhance long-term profitability and stability," said Seo Won-ju, the NPS's fund management director.
