Korea Post Insurance approves $50m commitment

The South Korean government agency has backed US funds for its first overseas venture capital mandate.

Institution: Korea Post
Headquarters: Sejong-si, South Korea
AUM: $106.77bn
Allocation to alternatives: 6.6%

Korea Post Insurance, the investment unit of Korea Post, has agreed to commit $50 million to Adams Street Partners for its first overseas venture capital mandate. The mandate will consist of allocations to commingled funds with a focus on venture capital.

The $106.77 billion South Korean government agency currently has a 1.3 percent allocation to private equity. The overall allocation to alternative investments currently stands at 6.6 percent.

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