Korea’s GEPS seeks mezzanine managers

Another state pension fund in the country is planning to tap the private credit space this month.

South Korea’s Government Pension Service (GEPS) is planning to commit $100 million ($50 million per fund) to two GPs operating in private debt.

According to a statement, the pension fund is looking at funds focusing on global private debt with a mezzanine or subordinated debt strategy. The fund term should to be 10 years with a five-year investment period.