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South Korea $232 billion sovereign wealth fund Korea Investment Corporation (KIC) reviewing to sell $1 billion of Private Equity investments & appoints Blackstone spin-off United States boutique investment bank PJT Partners as investment advisor. Sep 21, 2026 21st September 2026 | Hong Kong South Korea sovereign wealth fund Korea Investment Corporation (KIC, $232 billion AUM) is reported to be reviewing to sell $1 billion of private equity investments, and appoints Blackstone spin-off United States boutique investment bank PJT Partners as investment advisor. In 2026 Q3, Korea Investment Corporation announced the launch of a new $13.6 billion (KRW 20 trillion) strategic investment account in 2027 for long-term investment & as anchor investor into new technologies & strategic industries (Include artificial intelligence, semiconductor & sectors for South Korea national security). South Korea dropped the plan to create a separate sovereign wealth fund, and is targeting to pass the revised Korea Investment Corporation Act by end-2026. In 2026 May, South Korea increased the size of the new sovereign wealth fund to $20 billion (KRW 30 trillion) from previous $13.5 billion (KRW 20 trillion) capital. In 2026 January, South Korea launched the new sovereign wealth fund with $13.5 billion (KRW 20 trillion) capital, which allows higher risk investments and M&A activities. The current sovereign wealth fund Korea Investment Corporation (KIC) with $206 billion AUM manages South Korea foreign reserves, and is not allowed to allocate to high risk investments or M&A activities. South Korea GDP at $1.8 trillion, and has 51 million population. In 2026 February, Korea Investment Corporation (KIC) reported $232 billion AUM & +13.91% return in 2025, +8.49% in 2024 & +11.6% in 2023. Annualized Return in Last 10 Years: Equities +12.01%, Fixed Income +1.48%, Private Equity +12.87%, Real Estate +3.94%, Infrastructure +10.91%, Hedge Funds +5.47%. Portfolio Allocation: Traditional Assets 78.1% & Alternatives 21.9%, Portfolio Breakdown: Equities 41.6%, Fixed Income 32.8%, Private Equity 7.6%, Real Estate 5%, Infrastructure 4.5%, Hedge Funds 2.6%, Private Debt 2%, Others 3.9%. In 2025 December, South Korea was reported to be launching a new sovereign wealth fund allowing higher risk investments and M&A activities. In 2025 July, Korea Investment Corporation (KIC) is reported to be increasing allocation to alternative assets, technology investments in China, AI & tech companies in both public markets and AI value chain. In 2025 March, Korea Investment Corporation (KIC) with $206 billion AUM reported +8.49% return in 2024, +11.6% in 2023 & +4.75% annualized return since inception in 2005. Equity +19.83%, Fixed Income -0.19%, and Portfolio Allocation is 78.1% in Traditional Assets & 21.9% in Alternatives 21.9%. In 2025 February, Korea Investment Corporation (KIC) is inviting tender applications to provide 3-year custodian services for global investments including custodial services, asset manager services, fund accounting & administration. The criteria include managing at least $10 trillion custodial assets and have an office in South Korea. The tender application will close on 20th March 2025. "South Korea $232 billion sovereign wealth fund Korea Investment Corporation (KIC) reviewing to sell $1 billion of Private Equity investments & appoints Blackstone spin-off United States boutique investment bank PJT Partners as investment advisor"

GE Aerospace strikes $11.75 billion CPP casting deal. Key moments. * GE Aerospace agreed to acquire Consolidated Precision Products for $11.75 billion from Warburg Pincus and Berkshire Partners. * The deal values CPP at about 18 times expected 2027 EBITDA including synergies, and about 26 times without synergies. * The transaction is expected to close in the second half of 2027 and to be accretive to adjusted EPS and free cash flow in the first year. Strategic move to expand casting capacity. Investing.com - GE Aerospace announced Tuesday that it has entered into a definitive agreement to acquire Consolidated Precision Products (CPP) from private equity owners Warburg Pincus and Berkshire Partners in a transaction valued at $11.75 billion. CPP is a supplier of engineered castings and sub-assemblies that serve both commercial aerospace and defense end markets. GE Aerospace Chairman and CEO H. Lawrence Culp, Jr. said the planned acquisition is intended to address the need for additional casting capacity to support demand across commercial engines, aftermarket activity, and defense programs. He indicated that pairing GE Aerospace's technology with CPP's manufacturing base is expected to increase capacity and accelerate the development of engine technologies. CPP's manufacturing footprint and capabilities. CPP, headquartered in Cleveland, Ohio, manufactures investment and precision sand castings used in commercial and military aircraft, weapon systems, jets, helicopters, and industrial gas turbines. Its portfolio spans complex super alloy, titanium, aluminum, magnesium, and steel cast components. The company employs approximately 6,600 people across more than 20 facilities. Founded in 1991, CPP is described as one of the world's largest producers of investment and precision sand castings. GE Aerospace has been a customer of CPP for more than fifteen years. Deal Valuation and financing structure. The agreement values CPP at approximately 18 times projected 2027 EBITDA when expected net synergies are included, and at approximately 26 times 2027 EBITDA excluding synergies. | Metric | Detail | | Total transaction value | $11.75 billion | | Valuation multiple (with synergies) | Approximately 18x 2027 EBITDA | | Valuation multiple (without synergies) | Approximately 26x 2027 EBITDA | | Cash financing | $7 billion | | Remaining consideration | Funded with new debt | GE Aerospace plans to fund $7 billion of the purchase price with cash, with the balance to be financed through new debt issuance. The company stated that the acquisition is expected to be accretive to adjusted earnings per share and free cash flow in the first year after closing. GE Aerospace also said that its capital allocation plans will remain unchanged as a result of the transaction. Closing timeline and advisory teams. The companies expect the transaction to close in the second half of 2027, subject to regulatory approvals and other customary closing conditions. Evercore and PJT Partners are acting as lead financial advisors to GE Aerospace. Morgan Stanley and Guggenheim Securities are advising CPP on the deal.

PJT Partners reported record-breaking Q2 results, with revenues of $486.3 million, up 19.5% year on year and exceeding analysts' expectations by 14.3%. The advisory-focused investment bank, which was spun off from Blackstone in 2015, also beat EPS and EBITDA estimates. CEO Paul J. Taubman credited the company's decade-long commitment to value-enhancing investments in scaling its businesses, capabilities, footprint, and brand. He expressed confidence in future growth prospects. The investment banking and brokerage sector tracked 15 companies in Q2, which collectively beat revenue consensus estimates by 4.5%. However, the sector has declined on average, with share prices down 1.8% since earnings results. PJT's stock has risen 1.1% since reporting and currently trades at $170.69.