[RFP] Korea Post seeks PE secondary funds for $200 mn mandate

  • 2020-04-28

Korea Post’s insurance arm plans to select two global private equity funds to invest up to $200 million in private equity secondary markets in 2020.

It will allocate $50 million to $100 million to each of the selected funds which need to manage a minimum $1 billion in a closed-end commingled fund, according to Korea Post’s request for proposal released on April 27.

Another requirement is a track record of secondary commingled fund management before the 2008 financial crisis.

Qualified private equity funds also need to enter into a distribution agreement with a registered Korean distributor for their funds when they submit a proposal.

Korea Post will receive proposals for the mandate by May 8 at 13:00 (Seoul time) and finalize the selection by the end of June.

Sector-focused funds such as real estate, infrastructure and energy-focused vehicles will be excluded from the selection process.

Korea-Post_RFP_Format-April-2020.xls

By Jung-hwan Hwang

hwang@hankyung.com

<Edited by Yeonhee Kim>