Korea’s Yellow Umbrella seeks local REF managers

The South Korean pension issues a RFP for domestic real estate managers.

Institution: Yellow Umbrella
Headquarters: Seoul, South Korea
AUM: 11.86 trillion won
Allocation to alternatives: 13.60%

Yellow Umbrella has issued a request for proposal for the local private real estate fund manager.

The pension plans to commit a total of 100 billion won ($83.1 million; €73.5 million) to the manager, which managed a fund that will be closed before December 2020, and the fund should have invested in Grade A office buildings in the metropolitan area of Seoul.

The submission deadline is 22 June 2020 with a decision put forth to the investment committee later that month.

The 11.86 trillion won ($9.85 billion; €8.72 billion) Korean pension has a 17.8 percent target allocation to alternative investment that currently stands at 13.6 percent.

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