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Korea Post opens tender for US$200 million infrastructure mandate

Korea Post
By Hui Ching-hoo   
September 28, 2023

Korea Post is looking to hire two asset managers for a US$200 million infrastructure mandate that focuses on developed countries in North America, Europe and Australia.

The investment is structured as a blind fund with a targeted size of more than $1 billion that will adopt core plus value-added strategies and allocate at least 70% of investment to equity assets, the government postal agency says in a request for proposal on September 26.

The fund will also invest in energy conversion assets, including renewable energy infrastructure.

Asset management firms bidding on the mandate must have a minimum $10 billion of infrastructure assets, and employ at least three investment professionals who have a minimum ten years of experience managing infrastructure funds.

Applications are open until October 17 with on-site due diligence and manager selection scheduled by the end of the year.

Korea Post is one of the most prolific Korean asset owners in outsourcing investments, with 12 tenders thus far this year, including three that are property-related.

Sejong-based Korea Post has around 150 trillion won ($113.1 billion) of assets.