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Korea Post seeks manager for 150 billion won infrastructure loan mandate

Korea Post
By Hui Ching-hoo   
April 11, 2024

Korea Post is looking to hire an asset manager for a 150 billion won (US$110 million) domestic infrastructure loan fund mandate that focuses on private projects, including renewable energy facilities.

The investment will be structured as a blind fund. It will have a three-year investment period and a targeted annual return of 4%, the government postal agency says in a request for proposal on April 8.

The fund will earmark as much as 100 billion won for investments.

Asset management firms bidding on the tender must be locally registered, have at least five years of infrastructure investment experience, and a minimum 1 trillion won of total assets.

Applications are open until April 19 and the asset manager will be selected by June 24.

This is the sixth tender this year for Korea Post, one of the most prolific Korean asset owners in outsourcing investments. The other tenders were for domestic and foreign private equity, domestic venture capital, property loans, and social responsibility bonds.

Like most Korean asset owners, the postal agency rarely announces tender results publicly.

Sejong-based Korea Post has around 150 trillion won of assets under management.