Korea’s Police Mutual Aid Association has opened a tender for 180 billion won (US$122 million) of domestic alternative investments.
Three firms will be hired for a 120 billion won private equity fund mandate, and another three for a 60 billion won venture capital fund mandate, both with ten-year maturities, according to the group’s request for proposal issued on January 12.
Asset managers bidding on the private equity mandate must have a minimum 5 trillion won of total assets, and those applying for the venture capital mandate must have at least 3 trillion won of assets.
Applications are open until January 26, with due diligence and manager selection scheduled by the end of March.
The Seoul-based Police Mutual Aid Association has around US$2.74 billion of assets under management.
