KTCU seeks PE/VC managers in Korea

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

Institution: Korean Teachers’ Credit Union (KTCU)
Headquarters: Seoul, South Korea
AUM: 41.4 trillion Korean won ($32.8 billion; €30.6 billion)
Allocation to alternatives: 63.92%

Korean Teachers’ Credit Union (KTCU) has issued a request for proposals for domestic private equity managers.

The pension plans to commit a total of 265 billion Korean won for a maximum of 14 fund managers.

The pension is looking for managers with funds in four size categories: more than 150 billion Korean won for large-scale managers, more than 80 billion Korean won for middle-scale managers, more than 30 billion Korean won for small-scale managers and more than 15 billion Korean won for rookie managers. Managers need at least five years’ experience in the private equity industry.

The submission date is 3 June and a decision will be put to the investment committee in late July.

The 41.4 trillion Korean won pension currently has a 63.92 percent allocation to alternative investments.

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