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KDB seeks domestic real estate managers

The South Korean investment bank issues a RFP for a domestic real estate fund with an opportunistic strategy.

Institution: Korea Development Bank
Headquarters: Seoul, South Korea
AUM:
268.84 trillion Korean won
Allocation to alternatives: 1.23%

Korea Development Bank has issued a request for proposal for a domestic real estate fund.

The investment bank plans to commit 100 billion Korean won ($89.3 million; €75.4 million) to a smart logistics real estate fund. Eligible managers should manage a fund of at least 300 billion Korean won in size. The vehicle should be invested in logistics and non-residential sectors like data centers, retail, office and hospitality in Seoul Metropolitan Area, with at least 60 percent of the total capital raised by the fund focused on logistics centers with an opportunistic strategy.

The firm also plans to commit 20 billion Korean won to the fund to invest in the smart logistics corporate sector.

The submission deadline is 27 November 2020 with a decision put to the investment committee in mid-December.

The 268.84 trillion Korean won bank currently has a 1.23 percent allocation to alternative investment.

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