이 기사는 2021년 07월 07일 07시43분 thebell에 표출된 기사입니다

Teachers’ Pension, a South Korean pension scheme for private school educators, is looking for four domestic managers to award a private equity mandate totaling 200 billion won ($176.5 million).

A request for proposals (RFP) issued on Monday said up to 50 billion will be committed to each manager. The mandate size increased from 150 billion won a year ago, which were awarded to three managers.

There are no constraints on investment areas and strategies. The target fund size must be greater than 300 billion won and the general partner needs to commit 1% or more of the fund size. The life of the fund cannot exceed 10 years but can be extended upon agreement between both parties. The fund’s investment period is five years from its establishment.

Only managers that have secured capital commitments worth 30% or more of the fund size from other domestic institutional investors are eligible to submit proposals. Interest firms must have more than 300 billion won in cumulative assets under management as of the RFP issue date. The firm’s key fund manager should have investing experience of more than 10 years and the firm’s head office should be domiciled in South Korea.

Proposals are due by 5 p.m. on July 23. Interviews for the shortlisted candidates and due diligence will be conducted, with the final selection expected to made before the end of August.

Last year MBK Partners, SkyLake Investment and Stonebridge Capital were each awarded 50 billion won from Teachers’ Pension.

The pension fund had approximately 21.5 trillion won in assets under management at the end of May, with exposure to alternative investments accounting for about 4.3 trillion won, or 20% of its total assets. (Reporting by Hee-yeon Han)