Korea Post to commit 300 billion won to senior loan fund Korean government agency to select one or two fund managers
Translated by Ryu Ho-joung 공개 2020-06-01 08:01:25
이 기사는 2020년 06월 01일 08:00 thebell 에 표출된 기사입니다.
Korea Post is looking for external managers for its senior loan strategies.The Korean government agency has issued a request for proposal for senior loan fund managers, sources said on May 28. It aims to commit a total of 300 billion won ($242 million) to one or two managers investing in domestic senior loans. The capital committed by the agency will be drawn from its two investment units – Postal Savings Service and Postal Insurance Service.
Senior loan funds typically invest in securities backed by low-quality loans. But Korea Post this time required the selected managers to deploy more than 80 percent of the fund size to securities backed by “senior loans (including those used for refinancing) involved in M&A transactions.” The fund can invest 30 percent or less of total committed capital in foreign assets. The fund’s investment in one company cannot exceed 30 percent of total committed capital.
The fund is a blind pool and the manager needs to close it within six months after being selected. There is no requirement on a minimum fund size. The life of the fund should be no more than eight years with options to extend it upon agreement with limited partners. The investment period should not exceed four years after the fund’s creation.
Previously Korea Post invested primarily in foreign senior loans, seeking a stable yield. It first committed 400 billion won to a senior loan fund investing in domestic senior loans last year.
Korea Post will receive proposals until June 5 with the selection process likely conducted for about a month. The final results are expected to be announced in July.
(Reporting by Hee-yeon Han)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- [현장 인 스토리]뉴로메카, 출하 전 96시간 몸푸는 협동로봇 본진 가보니
- [바이오 스톡 오해와 진실]브릿지바이오, 창업주 엑시트설에 흔들 "사실 아니다"
- [기업집단 톺아보기]해외진출 타진 삼성화재, 영국 투자서 빛 봤다
- [2024 캐피탈마켓 포럼]"한국물 신규발행 랠리 이어진다"
- [2024 캐피탈마켓 포럼]"유상증자 통한 자금 조달 본격화된다"
- [2024 캐피탈마켓 포럼]팬데믹으로 중립금리 상승…성장률 '상고하저'
- [2024 캐피탈마켓 포럼]'방향성 잃은' 금리, 기업들의 자금조달 전략은
- [thebell interview]"일본 부동산·퇴직연금 경쟁력 강화, 수익성 제고 목표"
- 황성환의 '타임폴리오 유토피아'
- 돈 없어서 못하는 밸류업?