Korea’s GEPS seeks PE secondaries managers
The $5.2 billion Government Employees Pension Service will hand out $100 million in global private equity secondaries mandates as part of a plan to raise its alternatives exposure.
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Korea’s Government Employees Pension Services (GEPS) last week invited bids from asset managers to run two global private equity secondaries portfolios worth $50 million each.
The mandates are for commingled blind funds for a total of $100 million with terms of 10 years, with an option of a one- or two-year extension, and with investment periods of five years, also with an option of a one- or two-year extension. The deadline for submission is May 12 (this coming Thursday).
The W…
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