Korea Post to award $100 mil PE co-investment mandates Korean postal agency looks for two managers

Translated by Ryu Ho-joung 공개 2021-09-17 12:57:51

이 기사는 2021년 09월 17일 08:08 더벨 유료페이지에 표출된 기사입니다.

Korea Post has issued a request for proposals (RFP) seeking private equity managers to explore overseas co-investment opportunities.

The South Korean postal agency’s savings arm plans to award $50 million each to two managers to invest in private equity co-investment funds, the RFP said.

Eligible applicants must have a track record of managing co-investment commingled funds. Funds with strategies focused on specific sectors such as real estate, infrastructure and energy will not be considered.

The fund’s size should be at least $500 million with maturity of no more than 12 years. The selected funds should invest 50% or more of the fund size in developed markets such as North America and Western Europe.

Proposals are due on September 30, which will be followed by two rounds of evaluation and due diligence.

The first evaluation will be focused on quantitative measures, such as cumulative assets under management and investment performance.

In the second round of evaluation, the focus will be on the fund strategy, its suitability with regard to the agency’s investment goal and policy, the general partner’s ability to source deals, etc. The final selection is expected to be made before the end of the year.

Korea Post has continued to increase its allocation to alternative investments in recent years. Its savings arm had approximately 83 trillion won ($70.9 billion) in assets under management at the end of March this year, with exposure to alternative assets accounting for 5.98 trillion won or 6.7% of the total assets. (Reporting by Hee-yeon Han)
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