이 누리집은 대한민국 공식 전자정부 누리집입니다.
2017 Government Employees Pension Service(“GEPS”) Request For Proposal for Global Private Debt Fund (Opportunistic Strategy)
- GEPS hereby announces a new investment mandate regarding the selection of Global Private Debt (Opportunistic Strategy) Fund managers for the year 2017. Any manager who wishes to participate in the selection process must complete and submit by the designated due date a set of formal proposal and relevant supplements in accordance with the guidelines and requirements as stated below.
Mandate Summary
| Category | Contents |
|---|---|
| Mandate Type | Commingled Blind Fund |
| Selection Process | Public process in the form of RFP subject to quantitative & qualitative evaluation, respectively |
| Total Commitment Size of GEPS | Max USD 160 million ※ USD 50 million ~ USD 80 million per each Fund respectively, in accordance with the total amount of committed capital for the proposed fund by the time final selection is confirmed & announced by GEPS |
| Number of Managers to be selected | Two commingled funds with 2 GPs |
| Investment Targets | Main focus on Global Private Debt Opportunistic Strategy
|
Selection Criteria
| Category | Contents |
|---|---|
| Fund Term | 10 years(with exception for 1 or 2 year extentions) |
| Investment Period | 5 years(with exception for 1 or 2 year extentions) |
| Capital Contributions | Capital Call (as needed basis) |
| Fund Size | Not restricted (please refer to Minimum Qualifications stated separately) |
| GEPS’s Maximum Commitment |
Within the limit of 50% of aggregate commitment |
| GP’s Own Commitment | To be evaluated as per proposal |
| Management Fee | To be evaluated as per proposal |
| Performance Fee | To be evaluated as per proposal |
Minimum Qualifications
- GP/Manager
- Minimum 2 full years in the business (since founded) with cumulative size of total fund invested(Opportunistic Strategy only) of at least USD 300million
- Relevant internal control system in place including risk management & compliance function independent from investment function.
- Vehicle
- Offshore Private Debt Fund with Opportunistic Strategy which is already registered or is eligible to register as foreign investment vehicle under Korean Financial Investment Service and Capital Market ACT (FSCMA) in the foreseeably immediate future.
Notes
- Abolition
- In case the manager cannot meet or accommodate investment criteria and/or structure as required by GEPS and is unable to take follow-up measures for GEPS to finalize commitment accordingly.
- If the proposal documents are found to be untrue and/or under intentional misrepresentations or manipulation
- If material event that may impact the management of fund occurs after the manager has been selected prior to completing subscription procedures
- In addition to the above, any conditions are found to be not appropriate as per non-compliance with the internal policy of GEPS
- Sanction
- In either case of the proposed and submitted documents are found to include untrue or manipulated contents, commitment shall be restricted to the maximum of three years from the date of violation
Selection Process and Schedule
- Selection Procedure
- Proposal submission → 1st Quantitative Evaluation of Proposal → Notice of 1st Evaluation result→ 2nd Qualitative Evaluation(Including presentation at GEPS premise in front of the Selection Committee) → Notice of 2nd Evaluation result → On-site Due Diligence → Final selection
- Target Selection Schedule
Target Selection Schedule Date Process Remarks 17 Feb. 2017 RFP Announcement·Posting To be posted on the GEPS webpage 27 Feb. 2017 Proposal Submission Deadline Must arrive by 6:00 PM on the deadline date 06 Mar. 2017 Result of 1st Evaluation to be notified to the short-listed candidates qualified for the 2nd Evaluation 09 Mar. 2017 2nd Evaluation(Selection Committee) To be notified to the short-listed candidates 15 Mar. 2017 ~ 19 Mar. 2017 Due Diligence 24 Mar. 2017 Final Selection (subject to internal approval) To be posted on the GEPS website and notified by e-mail to selected managers ※ The above schedule may be subject to changes according to internal situation of GEPS. Nonetheless, please pay due care to and prepare in advance for the above Due Diligence and Selection Committee schedules as GEPS shall make best efforts to adhere to the planned schedule date.
※ Also, please note that final selection can be canceled if fund cannot be inceived within 6 months.
Application and Submission
- Required Documents for 1st Evaluation(Quantitative)
- Proposal 4 sets (both in Korean/English version)
- Private Placement Memorandum 4 copies(English version), including any relevant amendments to
date
※ PPM also has to be submitted in the portable memory card containing the proposal set
- Required Documents for 2nd Evaluation(Qualitative)
- Presentation material based on the proposal
- Submission
- Soft Copy: e-mail ( shruy77@geps.or.kr, raykwon21@geps.or.kr)
- File name Formats
- Korean version proposal : Date(20170227)_firm name_fund name_proposal_korean
- English version proposal : Date(20170227)_ firm name_fund name_proposal_english
- Quantitative data : Date(20170227)_firm name_fund name_data
- English version PPM : Date(20170227)_firm name_fund name_PPM_ english
- Hard Copy: In-Person submission or by registered mail
- Deadline: 27 Feb, 2017
- ※ Must arrive by 6:00PM on the deadline date.
Note
- All submitted documents will not be returned to the applicants.
- GEPS will not be able to provide non-disclosure agreement during the submission phase. Therefore, any information deemed to be confidential (e.g. trade secrets) may appear as confidential on the proposal, and will be treated accordingly.
- The Korean version of the proposal form shall prevail over the English version, to the extent of any inconsistency between two versions.
Inquiries and Contact
- Address : 3rd Fl., SangRok Bldg., 508 Eonjuro, Gangnam-Gu, Seoul, 06152, Korea
- Department : Alternative Investment Department
- Staffs
- Songheon Ryu (82-2-560-2903, shruy77@geps.or.kr)
- Soonil Kwon (82-2-560-2175, raykwon21@geps.or.kr)
