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February 2025
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AAM Magazine
February 2025
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Korean scientists and engineers fund opens tender for foreign CLO mandate

SEMA
By Hui Ching-hoo   
January 21, 2025

South Korea’s Scientists and Engineers Mutual-aid Association (SEMA) is calling bids for a foreign middle-market collateralised loan obligation mandate, the group’s first outsourced investment of 2025.

The group is looking to appoint two asset managers for three years to manage the CLO, according to its request for proposal on January 17. The value of the mandate was not disclosed.

Asset management firms bidding on the tender must have at least 500 billion won (US$343 million) of foreign bond trust assets, and must be registered in Korea.

Applications are open until January 24 and the winning bidders will be hired by March 10.

SEMA invests pension contributions of more than 75,000 scientists and engineers, managing around $7.7 billion of assets.