National Investment Corp. of the National Bank of Kazakhstan issued RFPs for hedge fund-of-funds and private equity managers in several different categories, according to a source at the bank.
The hedge fund-of-funds portfolios will range between $50 million and $150 million per manager. The strategies are global macro, event driven, credit, long/short equity, multistrategy, fixed-income arbitrage and managed futures.
For private equity managers, the portfolio size was also estimated at between $50 million and $150 million to be invested in mezzanine funds, and primary and secondary private equity funds globally, excluding the Commonwealth of Independent States, which comprise countries that made up the former Soviet Union.
Timur Naizabekov, managing director and head of alternative investments, declined to provide further information. Proposals are due Feb. 28, and RFPs can be requested via e-mail at [email protected]. Managers submitting proposals are required to have at least $5 billion in assets under management.
Established in 2012, the NIC is responsible for investing Kazakhstan's foreign reserves, including assets of the $62 billion Kazakhstan National Fund, Almaty, the country's sovereign wealth fund.