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Korea Post hires US firms for US$200 million infrastructure mandate, report says

Korea Post
By Hui Ching-hoo   
December 30, 2020

Korea Post has appointed US asset managers Argo Infrastructure Partners and Stonepeak Infrastructure Partners for its US$200 million overseas infrastructure mandate, according to a local news report.

The government postal agency, which opened the tender on November 10, had said in its request for proposal that the investments will mainly be in greenfield infrastructure stocks and assets in North American markets.

Korea Post does not typically disclose winning bidders of its tenders.

The two US firms, which are based in New York, were identified in a report in The Korea Economic Daily on December 25. The report says the information came from Korea Post.

Spokespersons for Korea Post did not immediately respond to questions from Asia Asset Management.

This is the postal agency’s second overseas infrastructure strategy since February 2019.

Korea Post had around US$106 billion of total assets as of December 2019.