The insurance arm of Korea Post is seeking private equity fund managers to team up with local brokers for distressed investments, Asian Investor reports. The size of the mandate may be worth $93 million. Interested candidates are required to submit their bids by May 17, 2011.The $75 billion institution is seeking proposals from overseas fund managers with regard to single private equity funds with a distressed-asset strategy. Hana Daetoo Securities, which is the sole adviser on overseas alternative investments to the postal insurance bureau, will assist Korea Post on the task and not partner with overseas managers for the purpose of the mandate.
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