Korea Post is planning to hire seven asset managers for a 250 billion won (US$180 million) domestic private equity fund mandate for its insurance and saving units.
The fund will pursue growth and buyout strategies, explicitly excluding start-up and venture-specific private funds, according to the government postal agency’s request for proposal issued on September 10.
The fund is required to allocate at least 50% of investments to small- and medium-sized companies, with over 40% targeted at artificial intelligence-related industries.
Applicants must have experience in managing private equity funds, with their private equity portfolio totalling at least1 billion won in total assets.
The application deadline is September 22, with successful bidders announced by the end of November.
Korea Post has around 150 trillion won of assets under management.
