Korea Post Insurance, Seoul, issued an RFP for global hedge funds-of-funds managers with multistrategy offerings.
In an e-mailed response to questions, Hwang Jun-Yeon, a manager with Korea Investment Management Co., which advises Korea Post, said the mandate would come to US$50 million, and either one or two managers will be selected.
Candidates must manage at least $500 million in the strategy and at least $2 billion overall, according to the RFP.
The RFP is available in English on Korea Post's Korean-language website. Responses are due Aug. 9.
Lee Jin Ho, a Seoul-based senior investment manager with Korea Post, couldn't be reached immediately for comment. Korea Post manages $27 billion in premiums for insurance policies sold through the country's post office network.