[THE INVESTOR] State-run Korea Post’s insurance business arm has selected Dominus Investment and Lindman Asia Investment to manage its domestic private equity funds, according to local financial sources on July 4.
Korea Post will be investing a total of 60 billion won (US$51.88 million), with Dominuns and Lindman Asia each receiving 30 billion won.
Up to 10 different PEFs vied for the Korea Post portfolio, according to the postal company.
Dominus Investment mostly invests in convertible bonds, bonds with warrant and exchangeable bonds. Lindman Asia Investment, on the other hand, makes profit from its Chinese financial networks.
Korea Post is a public firm run by the Ministry of Science, ICT and Future Planning. It mainly handles postal services, but also engages in financial services including banking.
As of this year, Korea Post has 105 trillion won worth of assets to manage from its banking and insurance businesses.
Following the National Pension Fund, which manages 470 trillion won, the funds Korea Post is enlisted to operate is the second-largest for a South Korean public firm.
By Kim Ji-hyun (
jemmie@heraldcorp.com)