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NPS’ infra head poached by Korea’s largest independent GP

Jade Changsuk Ok is the second senior executive to join Truston Asset Management after the firm appointed Yoonpyo Lee as co-CEO in July.

Jade Changsuk Ok, formerly head of global infrastructure investment at National Pension Service of Korea, has joined a local asset management firm to lead its alternative investment division. 

Ok started his new role at Seoul-based Truston Asset Management Company on 7 November, after spending seven years working at the country’s largest pension. After joining NPS in 2010 as an investment staff focused on private equity and infrastructure, he was promoted to helm the global infrastructure investment team in May 2013. His tenure saw him involved in building an $11 billion infrastructure portfolio across the globe. 

Prior to joining NPS, Ok worked at Korean energy conglomerate SK Energy, Australia’s Macquarie Securities and Chinese asset management firm SinoBanker. 

Truston is the largest independent asset manager in Korea, Ok told Infrastructure Investor in an email interview. The firm had $6.2 billion in assets under management as of this October. Over half of its AUM is invested on behalf of pension clients, with the balance made up of sovereign wealth funds and insurance companies. 

Ok said the firm had been striving to hire highly experienced staff in a bid to tap global demand for long-term assets and alternatives investments.

In addition to Ok, Yoonpyo Lee, who led NPS’ portfolio strategy division and global alternative investment division, also joined the asset management firm as a co-chief executive in charge of multi-asset strategy in July. 

NPS had not responded to requests for comments by press time.