Institution: Korea Post Savings
Headquarters: Sejong-si, South Korea
AUM: 150.30 trillion won ($117.50 billion; €107.55 billion)
Allocation to alternatives: 8.0%
Korea Post Savings, the investment unit of Korea Post, has issued a request for proposal for overseas real estate fund managers.
The firm aims to commit a total of 200 million US dollars or euros to two managers. It will invest with a value-add strategy globally, but more than 50 percent of investments should be in North America. The firm requests that the fund does not invest more than 30 percent in either office or development sectors. The fund will have a target size of at least $1 billion.
The submission deadline is April 7. The investment committee plans to make a decision in July 2023.
The savings unit of 150.30 trillion won South Korean government agency has an 8.0 percent allocation to alternative investments.
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