Korea’s KDB Infrastructure seeks asset manager for 50 million won renewable energy fund

KDB Infrastructure Investment Asset Management Co, the alternative investment arm of Korea Investment Bank, is looking to hire an asset management firm for its 50 billion won (US$37.69 million) corporate renewable energy fund of funds.

The firm will be responsible for managing the energy fund’s sub-fund and will be appointed for three years, KDB Infrastructure says in a request for proposal on January 31.

Institutions bidding on the mandate must be locally registered fund houses with a minimum 1 trillion won of assets, including at least 100 billion won of domestic renewable energy funds.

KDB Infrastructure says the evaluation and manager selection process will take up to eight weeks.

Seoul-based KDB, which focuses on various Korean and foreign alternative investments, had around 68.6 billion won of total assets at the end of 2021, the latest publicly available figure.