[RFP] Korea Post plans to commit $200 mn to two distressed debt funds

Korea Post plans to allocate $200 million to two distressed commingled funds for target returns of 8% or above, according to its request for proposal posted on Feb. 20.

Both the savings and insurance units of the agency will invest $100 million respectively in the distressed strategy for control and non-control, which may include special situation investment.

It posted the RFP on the Korea Financial Investment Association.

Applicants must have track records of managing a distressed commingled fund before the 2008 global financial crisis and raise at least $600 million for a distressed debt fund.

It will receive proposals by Feb. 28 and finalize the selection during April.

Meanwhile, Korea Post plans to invest a combined $500 million in global infrastructure assets for both savings and insurance arms in 2019.