Military Mutual Aid Association Launches 100 Billion KRW Real Estate Development Blind Fund

First Public Recruitment of Two Fund Managers

The Military Mutual Aid Association announced on May 28 that it will publicly recruit two domestic real estate development-focused blind fund managers, each to be entrusted with over 50 billion KRW in assets.

This is the first time the Military Mutual Aid Association is publicly recruiting blind fund managers for the construction investment division. Previously, the association has made blind fund commitments in the financial investment division, including private equity, venture capital, and credit sectors. To maximize investment expertise and synergy, the association manages its funds by dividing them into the financial investment division (corporate finance, securities management) and the construction investment division (real estate investment, construction infrastructure).

The total commitment amount is 100 billion KRW. Each of the two selected managers will receive 50 billion KRW to operate a domestic real estate development-oriented blind fund. Proposals must be submitted by June 16. For details on eligibility requirements, required documents, and the application schedule, please refer to the Military Mutual Aid Association website.

The first round of evaluation will be a document review focusing on the stability of the management company, management personnel, and track record. The second round will be a presentation review assessing management strategy and risk management.

Jung Jaegwan, Chairman of the Military Mutual Aid Association, stated, "As interest rates are expected to decrease and construction costs stabilize, we anticipate a favorable environment for development projects. This is an appropriate time to secure both profitability and stability," adding, "Through the establishment of this domestic real estate development-focused blind fund, we will manage our members' funds in a stable manner."