Korea’s GEPS seeks domestic fund managers

The South Korea-based public pension issues a RFP for domestic PE opportunities.

Institution: Government Employees Pension Service (GEPS)
Headquarters: Seoul, South Korea
AUM: KRW8.83trn
Allocation to alternatives: 17.2%
Bitesize: $10-50m

Government Employees Pension Service has issued a request for proposal for domestic private equity managers.

GEPS plans to commit a total of KRW120 billion ($100.9 million; €91.3 million) to three private equity managers. Eligible managers should have a fund of at least KRW100 billion ($84.1 million; €76.1 million), and should possess at least five years of experience in the private equity industry.

The submission deadline is 17 December 2019 with a decision put forth to the investment committee in February 2020.

As illustrated below, GEPS’s last private equity commitment was to 2018-vintage Alcentra European Direct Lending Fund III.

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