Korea’s GEPS seeks buyout/growth managers

The South Korea-based public pension aims to commit $120m to two or three managers.

Institution: Government Employees Pension Service (GEPS)
Headquarters: Jeju-do, South Korea
AUM: 6.28 trillion won ($4.69 billion; €4.25 billion)
Allocation to alternatives: 34.91%

Government Employees Pension Service (GEPS) has issued a request for proposals from global private equity fund managers with buyout or growth strategy.

The firm aims to commit $120 million to two or three managers. Their funds should allocate at least 80 percent to North America and/or Europe, while funds that allocate over 80 percent to a single sector will be excluded. The funds will have a target size of at least $4 billion at final close, and the firms should have run their business for least 15 full years.

The submission deadline is 17 May with a decision put forth to the investment committee in July 2023.

The 6.28 trillion won South Korean government employees pension has a 34.91 percent allocation to alternative investments.

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