Korea Post has shortlisted a number of bidders as it prepares to award private equity mandates totaling 200 billion won ($169 million), with interviews and due diligence expected to begin soon and the final selection likely in October.

JKL Partners, Glenwood Private Equity and IMM Investment are among those on the shortlist, industry sources said on Wednesday (September 23). Most also won mandates from the National Pension Service in June.

Managers submitted their proposals for the two spots on August 28 and conducted document screening. It is believed that four will compete in the next round, as the number shortlisted by Korea Post is normally twice as many as the available spots.

Korea Post last awarded private equity mandates of 400 billion won in February 2019 to four managers – Unison Capital, Praxis Capital Partners, IMM Private Equity and STIC Investments. (Reporting by Hee-yeon Han)