November 2020
AAM Magazine
November 2020
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Korea Teachers’ Pension seeks managers for domestic equity mandate

Korea Teachers’ Pension
By Hui Ching-hoo   
November 23, 2020

South Korea’s Teachers’ Pension is inviting bids from foreign and local asset managers for a domestic equity mandate of unspecified value.

It’s split into a growth style strategy and a socially responsible strategy, with three managers to be selected for the former and two for the latter, the pension fund says in a request for proposal on November 18.

Applicants for either strategy must have at least 10 billion won (US$8.9 million) of total assets.

Bidders for the growth strategy must have a minimum three-year track record, and those applying to manage the socially responsible strategy must have at least one year.

Foreign companies must have a partnership with Korean fund managers and maintain an office in South Korea.

This is the pension fund’s second tender this year after a 150 billion won domestic private equity mandate in February that closed at the end of that month. It typically doesn’t publish tender results.

Applications for the new tender are open until November 25. Evaluation and due diligence are scheduled to be carried out over two weeks from December 15, with the winners slated to be picked on December 28.

Teachers’ Pension, a retirement scheme for private school teachers, currently manages around 15 trillion won of total assets for 330,000 school staff and pensioners.