South Korea’s Scientists and Engineers Mutual-aid Association (SEMA) has issued tenders for two mandates, a domestic private equity fund of 170 billion won (US$122 million) and a domestic venture capital fund of 140 billion won.
SEMA will appoint five asset managers for the private equity mandate, including two large managers with total assets of at least four trillion won. Each of these large managers will be allocated 50 billion won, according to the group’s request for proposal issued on September 10.
For the venture capital mandate, seven managers will be selected. SEMA will allocate 30 billion won each to three large managers, each having a minimum 150 billion won in total assets.
Applications are open until September, with due diligence and manager selection scheduled for completion by the end of November.
SEMA manages pension contributions of more than 75,000 scientists and engineers, overseeing around US$7.7 billion of assets.
