South Korea’s MMAA seeks domestic PE/VC fund managers

Military Mutual Aid Association hopes to commit 200bn Korean won to private equity and venture capital funds in the country.

Institution: Military Mutual Aid Association
Headquarters: Seoul, South Korea
AUM: 9.35 trillion Korean won ($7.04 billion; €6.91 billion)
Allocation to alternatives: 74%

Military Mutual Aid Association has issued a request for proposal for domestic private equity and venture capital fund managers.

The pension seeks to commit a total of 200 billion Korean won to a maximum of 22 fund managers, comprising at most 11 private equity managers and at most 11 venture capital managers. Eligible managers should manage a fund of at least 300 billion won for private equity, and 200 billion won for venture capital.

The submission date is 25 November and a decision will be put to the investment committee in December.

The 9.35 trillion Korean won pension currently has a 74 percent allocation to alternative investments.