Construction Workers Mutual Aid Association seeks local PE/VC managers in Korea

Institution: Construction Workers Mutual Aid Association
Headquarters: Seoul, South Korea
AUM: 3.81 trillion Korean won
Allocation to alternatives: 24.2%

Construction Workers Mutual Aid Association has issued a request for proposal for domestic private equity and venture capital fund managers.

The pension plans to commit a total of 40 billion Korean won ($35.74 million; €29.52 million) to at most two private equity managers and a total of 20 billion Korean won ($17.87 million; €14.76 million) to at most two venture capital managers. Eligible managers should manage a fund of at least 50 billion Korean won and possess at least three years’ experience in the private equity industry.

The submission deadline is 5 February, and a decision will be put to the investment committee in mid-April.

The 3.81 trillion Korean won ($3.40 billion; €2.81 billion) pension currently has a 24.2 percent allocation to alternative investments.

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