Key Takeaways
- • South Korea's Government Employees Pension Service (GEPS) is seeking three global real estate investment managers for Asia-Pacific blind pool funds, with commitments of $40 million to $50 million per manager, for up to $150 million in total, according to KED Global.
- • The mandates will include a living sector strategy, per the original KED Global report.
- • The search is part of a broader run of Korean public pension and postal savings RFPs in 2026, including separate offshore real estate secondary and infrastructure mandates from Korea Post.
- • Publisher coverage of the same RFP describes GEPS as a roughly $9 billion pension fund and links the search to a plan to double its real estate exposure over the next five years, with up to $250 million in planned commitments.
Summary
South Korea's Government Employees Pension Service (GEPS) is seeking three global real estate investment managers to run Asia-Pacific blind pool funds, according to KED Global. The request contemplates commitments of $40 million to $50 million per manager, bringing the total allocation to as much as $150 million. The mandates will include a living sector strategy, a segment that typically covers assets such as residential, student housing, senior living and data-adjacent property types.
The RFP is one of several recent solicitations from Korean institutional investors. Korea Post's savings arm has sought offshore real estate secondary fund managers for up to $150 million and offshore infrastructure equity and debt managers in separate mandates. Korea Post has also been seeking domestic private equity managers for up to 245 billion won ($183 million). These parallel searches indicate a sustained push by Korean public capital pools to diversify across asset classes and geographies.
GEPS is described in related coverage as managing about 12.7 trillion won ($8.8 billion) in assets as of the end of 2025. Separate publisher coverage characterises the Asia-Pacific search as part of a plan to double the fund's real estate exposure over the next five years, with ticket sizes ranging across Europe, North America and Asia-Pacific and up to $250 million in planned commitments. GEPS has also sought brokerage firms for overseas equity and bond trading for the first half of 2026 and is raising its exposure to Europe in infrastructure.
For global managers, the RFP offers a relatively modest but targeted commitment in the Asia-Pacific region. Given the per-manager size, the mandate is likely to attract regional and global firms with established blind pool vehicles and living sector capabilities. Specific application deadlines and evaluation criteria are set out in the RFP documents referenced by the publisher.
The RFP is one of several recent solicitations from Korean institutional investors. Korea Post's savings arm has sought offshore real estate secondary fund managers for up to $150 million and offshore infrastructure equity and debt managers in separate mandates. Korea Post has also been seeking domestic private equity managers for up to 245 billion won ($183 million). These parallel searches indicate a sustained push by Korean public capital pools to diversify across asset classes and geographies.
GEPS is described in related coverage as managing about 12.7 trillion won ($8.8 billion) in assets as of the end of 2025. Separate publisher coverage characterises the Asia-Pacific search as part of a plan to double the fund's real estate exposure over the next five years, with ticket sizes ranging across Europe, North America and Asia-Pacific and up to $250 million in planned commitments. GEPS has also sought brokerage firms for overseas equity and bond trading for the first half of 2026 and is raising its exposure to Europe in infrastructure.
For global managers, the RFP offers a relatively modest but targeted commitment in the Asia-Pacific region. Given the per-manager size, the mandate is likely to attract regional and global firms with established blind pool vehicles and living sector capabilities. Specific application deadlines and evaluation criteria are set out in the RFP documents referenced by the publisher.
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