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Korea Post picks Samsung SRA for 200 billion won US debt fund mandate

Korea Post
By Hui Ching-hoo   
December 10, 2021

Korea Post has selected Samsung SRA Asset Management to manage a 200 billion won (US$170.4 million) US real estate debt strategy fund mandate for its insurance unit.

They will sign the official outsourcing contract after on-site inspection, the government postal agency, which opened the tender on November 11, says in a statement on December 8. The inspection is ongoing and the agency did not say when it will be completed,

Samsung SRA, the property investment arm of South Korean conglomerate Samsung Group, will be appointed for a three-year term, which may be extended for another year, subject to performance.

The debt fund will primarily focus on senior and mid-tier loans in the US commercial property sector, with a minimum target rate of return of 5%. The fund’s investment period is ten years.

Korea Post had around 134 trillion won of assets under management as of end-2020.