Korea Post issues $1bn global property mandate

The Korea Post savings bureau is inviting real estate managers to pitch for a global mandate of at least $1 billion as it strives to add exposure chiefly to US and European assets. The bureau, which manages some $60 billion in assets, is seeking to raise at least $1 billion for its 2013 Opportunistic Blind Global Real Estate Fund. The public tender was launched on October 1 and runs until 5pm on October 30. The mandate is on a capital-call basis. The expected investment period i…