Korea’s POBA seeks domestic PE managers

The South Korean pension has issued an RFP for domestic PE managers.

Institution: Public Officials Benefit Association
Headquarters: Seoul, South Korea
AUM: KRW12.23trn
Allocation to alternatives: 58%
Bitesize: $10-50m

Public Officials Benefit Association has issued a request for proposal for domestic private equity managers, according to a report on the pension’s website.

POBA aims to commit a total of KRW120 billion ($101.6 million; €92.3 million) to three private equity managers. Eligible managers should have a buyout fund with a size of at least KRW200 billion ($169.3 million; €153.8 million), and should possess minimum five years experience in the private equity industry.

The submission deadline is 11 December 2019 with a decision put forth to the investment committee in February 2020.

As illustrated below, POBA’s last private equity commitment was €70 million to 2018-vintage Ares Capital Europe IV.

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