Korea Post is expected to issue mandates totalling KRW1.1trn (€872m) for investment in domestic real estate and global infrastructure.
Industry sources told IPE Real Assets that Korea Post called for submissions in April from interested asset managers.
The government-owned entity is currently assessing proposals and its investment council is due to meet this month to select the successful bidders.
A source said Korea Post had separately issued requests for proposals (RFPs) for domestic real estate investment totalling KRW600bn. It is intending to allocate KRW200bn each to core real estate, value-add real estate and the logistics sector.
Korea Post is also planning to award a mandate for up to US$500m (€431m) to invest in global infrastructure funds.
The state-owned agency’s brief is to invest in core infrastructure assets, according to the RFPs issued in April.
It is believed that Korea Post plans to split the capital allocation into parcels of US$300m and US$200m to selected managers that run infrastructure funds with a target size of at least US$1bn.
Korea Post wants to acquire equity in core infrastructure assets, excluding renewables, in the North American energy sector. It is also looking to other markets in advanced economies, such as Europe and Australia.
The savings arm of Korea Post, which has more than KRW65trn under management, is leading Korean institutional entities in the push into alternative asset classes. It has issued a flurry of mandates in the past 12 months, from private equity to hedge funds and debt.
Earlier this year, its savings arm awarded offshore private debt mandates, worth a combined US$300m, to Guggenheim Partners, Park Square Capital and Partners Group.
