Investors - MAY 26, 2016

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South Korean investor issues RFP

by Andrea Waitrovich

The $90 billion Korea Post Savings, a South Korean state-run investment fund, has issued an RFP for global real estate fund managers to direct core real estate investments in the United States and Canada.

The investment fund is seeking experienced managers with a minimum of $10 billion in assets under management. The deadline for proposal submission is May 30.The Korean investment fund plans to announce a manager on July 15.

Korea Post has committed $400 million thus far and is targeting 50 percent leverage, giving it $800 million in buying power.

In the United States, the Korean investment fund will adopt a core or core-plus strategy, with at least 80 percent of the market value of net assets invested in operating properties. More specifically, the capital would be targeted to private equity real estate properties with no more than 20 percent of such assets invested in property debt, public real estate operating company equity/debt or private real es

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