Allianz and NPS to form a joint venture.

Allianz Real Estate, the real estate investment and asset manager of the Allianz Group, and The National Pension Service of Korea, a public pension fund, agreed to form a joint venture to build a diversified core portfolio of high-quality properties in the Asia Pacific region. Financial terms were not disclosed. "This is a significant step forward in our ambition of bringing like-minded third-party investors to invest alongside Allianz. We view this as the beginning of a scalable partnership between NPS and Allianz, two highly respected long-term institutional real estate investors. We are incredibly proud of Rushabh Desai and our Asia-Pacific team for successfully raising our first third-party equity fund," François Trausch, Allianz Real Estate CEO.