Korea’s MMAA seeks domestic PE/VC fund managers

The South Korean pension issues a RFP for both PE and VC managers.

Institution: Military Mutual Aid Association
Headquarters: Seoul, South Korea
AUM: 8.05 trillion Korean won
Allocation to alternatives: 71.8%

Military 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 150 billion Korean won ($126 million; €109 million) to at most eight private equity managers and a total of 100 billion won to at most 10 venture capital managers. Eligible managers should manage a fund of at least 30 billion won for private equity, and 20 billion won for venture capital.

The submission deadline is 22 October 2021, with a decision put to the investment committee planned between mid-November and mid-December.

The 8.05 trillion won pension has a 73.0 percent target allocation to alternative investments that currently stands at 71.8 percent.

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