Korea’s GEPS invites bids for $120 mn Europe infrastructure investments

The headquarters building of the Government Employees Pension Service in Jeju Island

South Korea’s Government Employees Pension Service (GEPS) will commit a total of 100 million euros ($120 million) to two global infrastructure fund houses focusing on Europe.

According to its request for proposal published on Tuesday, it will select two blind pool funds for infrastruture investments, targeting a gross internal rate of return exceeding 10%. Each will receive 50 million euros ($60 million) in commitment. 

They are required to submit bids by Sept. 22.

Each fund selected by GEPS must raise more than 1 billion euros at final close, with European assets comprising more than 80% of its portfolio.

Fund of funds and sector-specific funds will not be qualified for the mandate.

Management fee will not exceed 2% of total commitment.

The selected funds will be managed under a fund of funds structure by Seoul-based IGIS Asset Management Co.

By Yeonhee Kim

yhkim@hankyung.com 

Yeonhee Kim edited this article.

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