Korea Post seeks a US real estate debt manager

The South Korean government agency is looking to commit up to $170m to a US real estate debt fund.

Institution: Korea Post
Headquarters: Sejong-si, South Korea
AUM: 141.95 trillion won
Allocation to alternatives: 8.45%

Korea Post has issued a request for proposal for a US real estate debt fund.

The firm aims to commit 200 billion Korean won to the fund which invests in commercial properties in the United States with a senior/mezzanine debt strategy. The eligible manager should manage a commingled fund of at least 1 trillion won ($845 million; €737 million) in size, with at least two years’ management experience in US real estate debt funds. Overseas managers with a corporate in South Korea can also apply.

The submission deadline is November 24, with a decision to be made by the investment committee planned in December.

The firm also announced Kiwoom Asset Management has been chosen for the domestic logistics fund manager which they issued an RFP last month.

As shown below, the 141.95 trillion won South Korean government agency has an 8.45 percent allocation to alternative investments.

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