KTCU seeks local PE/VC managers in Korea

The South Korean pension issues a RFP for domestic PE/VC fund managers.

Institution: Korean Teachers’ Credit Union (KTCU)
Headquarters: Seoul, South Korea
AUM: 36.69 trillion Korean won
Allocation to alternatives: 56.4%

Korean Teachers’ Credit Union (KTCU) has issued a request for proposal for domestic private equity and venture capital fund managers.

The pension plans to commit a total of 400 billion Korean won ($355.2 million; €295.8 million) to at most five private equity managers and a total of 75 billion Korean won to at most three venture capital managers. Eligible PE managers should manage a fund of at least 200 billion Korean won in size, and between 75 billion and 200 billion won in size for VC managers.

The submission deadline is 28 May with a decision put forth to the investment committee late July.

The 36.69 trillion Korean won pension has a 59.7 percent target allocation to alternative investment that currently stands at 56.4 percent.

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