Korea Post’s savings arm plans to select two global real estate managers to invest $200 million, or 200 million euros, in the housing market in the US and Europe.
It is targeting multi-family, senior and student housing sectors with core and core-plus equity strategies, the state-run agency said in a request for proposal on Sept. 20.
Requirements for the mandate include a real estate fund which needs to raise at least $500 million as of its final close and has at least three professional managers with more than 10 years’ experience in real estate investment, as well as at least $5 billion AUM at the management house.
Proposals must be submitted by Oct. 4 at 6 p.m. (Korean standard time).
Korea Post plans to finalize the selection in November.
By Hyun-il Lee
<edited by Yeonhee Kim>