Key Takeaways
- • Korea Post has opened a tender seeking as many as seven asset managers for a 245 billion won (US$181 million) domestic private equity fund mandate, according to Asia Asset Management.
- • The mandate is one of several recent Korean institutional tenders reported by Asia Asset Management, including a Korea Post passive domestic equity mandate and a US$140 million global credit mandate.
- • Asset managers interested in the private equity allocation would be competing for a multi-manager award, with the number of appointees capped at seven.
- • The primary source is a paywalled excerpt, so tender deadlines, eligibility criteria and fee terms are not available in the reporting reviewed.
Summary
Korea Post has opened a tender seeking as many as seven asset managers for a domestic private equity fund mandate worth 245 billion won (US$181 million), according to Asia Asset Management. The report is based on a short excerpt, with the full article behind a subscription paywall, so the remaining details of the tender, including submission deadlines, eligibility requirements and the investment strategy specifics, could not be verified.
The mandate is part of a broader pattern of institutional allocation activity in Korea reported by the same publication. Asia Asset Management's related coverage lists a separate Korea Post tender for a domestic passive equity fund mandate, and a Korea Post tender for a US$140 million global credit fund mandate. Other Korean institutions covered in the same cluster include KTCU, which opened a tender for a 400 billion won hedge fund mandate, and GEPS, which is seeking bids for a 100 billion won emerging-markets bond mandate. Shichousonren has appointed two Japanese firms for a domestic bond fund mandate, and POBA has opened a US$250 million REIT mandate tender.
For institutional allocators and managers, the Korea Post private equity tender is notable for its scale relative to the other mandates in the cluster and for the multi-manager structure, which allows up to seven selected managers. Managers pursuing the mandate would need to compete in the tender process, and the outcome will depend on the evaluation criteria, which were not available in the excerpt reviewed.
The mandate is part of a broader pattern of institutional allocation activity in Korea reported by the same publication. Asia Asset Management's related coverage lists a separate Korea Post tender for a domestic passive equity fund mandate, and a Korea Post tender for a US$140 million global credit fund mandate. Other Korean institutions covered in the same cluster include KTCU, which opened a tender for a 400 billion won hedge fund mandate, and GEPS, which is seeking bids for a 100 billion won emerging-markets bond mandate. Shichousonren has appointed two Japanese firms for a domestic bond fund mandate, and POBA has opened a US$250 million REIT mandate tender.
For institutional allocators and managers, the Korea Post private equity tender is notable for its scale relative to the other mandates in the cluster and for the multi-manager structure, which allows up to seven selected managers. Managers pursuing the mandate would need to compete in the tender process, and the outcome will depend on the evaluation criteria, which were not available in the excerpt reviewed.
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