Korea Post has chosen two foreign asset management firms for a US$300 million offshore infrastructure mandate, and three local firms for a Korean venture capital mandate.
The foreign firms are Global Infrastructure Partners from the US and EQT Group from Sweden. They will focus on energy transition assets in developed countries, including in North America and Europe, Korea Post says in a statement on November 18.
The government postal agency put the mandate up for tender on September 30.
It also hired IMM Investment Corp, InterVest and LB Investment for a domestic venture capital mandate. The value was not specified. It’s not clear when Korea Post issued the request for proposal for this mandate.
The postal agency is one of the most prolific among Korean asset owners in outsourcing investments, with more than ten mandates tendered out thus far this year in both mainstream and alternative asset classes.
It doesn’t often announce tender results publicly.
Sejong-based Korea Post has around 150 trillion won ($107 billion) of assets under management.
