Korea Post seeks a US real estate debt manager

The South Korean government agency is looking to commit up to $170m to a US real estate debt fund.

Institution: Korea Post
Headquarters: Sejong-si, South Korea
AUM: 141.95 trillion won
Allocation to alternatives: 8.45%

Korea Post has issued a request for proposal for a US real estate debt fund.

The firm aims to commit 200 billion Korean won to the fund, which invests in commercial properties in the United States with a senior/mezzanine debt strategy. The eligible manager should manage a commingled fund of at least 1 trillion won ($845 million; €737 million) in size, with at least two years’ management experience in US real estate debt funds. Overseas managers with a corporate in South Korea can also apply.

The submission deadline is November 24, with a decision to be made by the investment committee in December.

As shown below, the 141.95 trillion won South Korean government agency has an 8.45 percent allocation to alternative investments.

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