South Korea’s leading Shinhan Financial Group announced Thursday it will jointly create $200 million worth funds with U.S.-based investment firm Kohlberg Kravis Roberts (KKR) & Co. to design and market funds together.

It would make the first collaboration between a Korean financing holding name and a foreign private equity fund, according to experts.

Shinhan Financial Group will spearhead the design and portfolio allocation.

The two will launch $150 million in private equity fund maturing in 2035 and another $50 million one devoted to real estate and infrastructure investment.

They plan to expand the fund and partnership beyond alternative investments.

By Chung Joo-won and Lee Ha-yeon

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