CWMA seeks domestic RE debt managers

The South Korean pension issues a RFP for local RE debt managers.

Institution: Construction Workers Mutual Aid Association
Headquarters: Seoul, South Korea
AUM: 4.17 trillion Korean won
Allocation to alternatives: 23.9%

Construction Workers Mutual Aid Association has issued a request for proposal for domestic real estate debt fund managers.

The pension plans to commit 100 billion won ($71 million; €72 million) each to at most two managers. Eligible managers should manage a fund of at least 50 billion won. Successful firms should have at least five years’ experience in the relevant industry.

The submission deadline is October 18, 2022, with a decision put to the investment committee planned in early November.

The 4.17 trillion won pension has an allocation of 23.9 percent to alternative investment.

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