The Pension Foundation of The General Assembly of The Presbyterian Church of Korea (PCK) is seeking external managers for its alternative investments.
The pension foundation announced that it is hiring external managers to handle its alternative investments and will receive proposals until March 20. The pension foundation will commit 40 billion won. The pension foundation will carry out quantitative evaluation to shortlist candidates. The number of shortlisted candidates will be between two and three times the number of available spots. Those who pass the quantitative evaluation will move on the presentation competition which will take place on April 7. The pension foundation plans to announce the results by the end of April.
The pension foundation’s alternative investments include domestic and foreign private equity fund and private debt fund, infrastructure and overseas real estate. The number of external managers it will hire hasn’t been decided yet. The pension foundation aims an annual return of 6~10 percent and the investment period is five years since inception.
The pension foundation conducted its investment program to commit 90 billion won in August 2019, for which it selected two external managers. Keistone Private Equity and IMM Investment received 10 billion respectively. In 2018, the pension foundation hired IMM Investment, IGIS Asset Management, IV Asset and P&S Asset Management as its external managers. Each firm received commitments worth 15 billion won respectively.
Pension Foundation of The General Assembly of The Presbyterian Church of Korea manages pension for retired ministers. Since 2017, the pension foundation has increased investment into alternative assets to seek higher investment returns, which make it garner keen attention in the alternative investment market. (By reporter Kim Hye-ran)