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June 2024
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June 2024
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Korea Post picks Blackstone for US$100 million property loan mandate

Korea Post
By Hui Ching-hoo   
May 24, 2024

Korea Post has hired US private equity giant Blackstone Inc to manage a US$100 million overseas real estate loan mandate.

The government postal agency announced the appointment on its website on May 20, almost two months after seeking bids for the mandate.

The investment is structured as a blind fund which will focus on developed markets, including North America and Europe. At least 80% of the assets will be allocated to senior, subordinate and mezzanine loans.

Korea Post is one of the most prolific Korean asset owners in outsourcing investments. The property loan mandate is one of six it has tendered out since January. The rest include private equity, venture capital, and social responsibility bonds.

The postal agency doesn’t often announce tender results publicly.

Sejong-based Korea Post has around 150 trillion won ($110 billion) of assets under management.