POBA seeks overseas fund managers

The South Korean public pension fund issues a RFP for overseas PE opportunities.

Institution: Public Officials Benefit Association
Headquarters: Seoul, South Korea
AUM: $10.41bn
Allocation to alternatives: 58.0%

Public Officials Benefit Association (POBA) has issued a request for proposal for overseas blind-pool fund managers. It aims to commit a total of $150 million to opportunities within the secondaries market, private equity, and private debt.

For private equity, eligible firms must manage buyout and growth funds and be able to raise at least 60 percent of the fundraising target within one year after the appointment.

The submission deadline is 29 July with a decision put forth to the investment committee mid-September.

As illustrated below, the $10.41 billion investor has a 14.2 percent allocation to private equity. 

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