Institution: Korea Post
Headquarters: Sejong-si, South Korea
Allocation to alternatives: 6.0%
Korea Post Savings, the investment unit of Korea Post, has issued a request for proposal for real estate fund managers.
The firm aims to commit a total of $200 million to two managers targeting multi-family, senior housing and student housing sectors with a focus of core and core-plus strategies through either closed-ended commingled funds or open-ended funds.
The successful firms should have at least $5 billion invested in global real estate, with 60% of this focused on the United States and Europe. The firms should also have at least $500 million in fund size as of the final close.
The deadline for the RFP submission is 4 October and a decision will put forth to their investment committee in November.
As illustrated below, the KRW 125.11 trillion ($104.6 billion; €95.3 billion) South Korean government agency has a six percent allocation to alternative investments.
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