Last week Korea Post, with 110 trillion won ($93 billion) of assets under management, announced four requests for proposal (RFPs) to choose general partners (GPs) of its planned commitments to private debt fund (PDF), real estate fund investing in the United States and Canada, fixed-income fund targeting U.S. corporate debt and single hedge fund, respectively.
The government-owned Korea Post is one of South Korea’s fastest-growing institutional investors in the past decade. Its assets under management (AUM) had doubled to 110 trillion won by the end of last year from 55 trillion won in 2005. The AUM consists of savings assets at 62.5 trillion won and insurance assets at 47.5 trillion won. As part of efforts to sharpen its asset management skills, the postal and financial services provider opened an office in New York last year.
Korea Post has decided to give more weight to communication capability of South Korea placement agents when it screens RFPs to select GPs this year. It means transparency and smooth communication abilities of GPs will be at the top of its assessment list. For related stories, please refer to the following article and RFP files.
With warmest regards,
Chang Jae Yoo
Editor, the Korean Investors