Korea Post Insurance seeks real estate mezzanine managers

The South Korean government agency is looking to commit up to $300m to real estate funds.

Institution: Korea Post
Headquarters: Sejong-si, South Korea
AUM: $105.36bn
Allocation to alternatives: 5.0%

Korea Post Savings, the investment unit of Korea Post, has issued a request for proposal to real estate fund managers with a focus on mezzanine strategy. It aims to commit a total of $300 million to two managers through either closed-end commingled funds or separately managed accounts focusing on commercial properties in OECD countries.

The successful firms should have at least $7 billion assets under management, with vehicles of at least $500 million in size. The investor has issued a submission deadline of 7 May and will put a decision forth to their investment committee in June.

As illustrated below, the $105.36 billion South Korean government agency currently has a five percent allocation to alternative investments.

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