South Korea’s Government Employees Pension Service (GEPS) is looking for three international managers for a US$105 million global infrastructure mandate focusing on the North American energy sector.
The mandate is structured as a commingled close-ended equity fund with a seven-year investment period and a 7%-10% target internal rate of return, GEPS says in a request for proposal published on the website of Korea Financial Investment Association on April 21.
The fund will adopt a core and core plus investment strategy – investing in lower risk assets with stable income flows – and focus on traditional energy sectors in North America.
Applicants must have a minimum two-year track record and at least $5 billion of total infrastructure assets. They must also have at least three investment professionals with over a decade of experience in infrastructure investments.