Korea Post seeks real estate fund managers, looks to invest abroad

Korea Post Savings, a subsidiary of South Korea’s national postal service, is planning to commit up to $200 million to real estate in the United States and Europe.

The savings arm is also looking to bring on two global real estate managers to lead the investment efforts, according to The Korea Economic Daily.

Korea Post is targeting multifamily, senior and student housing sectors with core and core-plus equity strategies.

The Post reported that requirements for the mandate include a real estate fund that needs to raise at least $500 million at its final close and must have at least three professional managers with more than 10 years’ experience in real estate investment.