Korea Post Savings, Seoul, is looking for up to two hedge fund-of-funds managers to run US$200 million to US$300 million apiece.
Korea Post's RFP said interested managers must have at least US$10 billion in hedge fund-of-funds assets, a track record of at least 10 years and must be capable of tailoring a hedge fund-of-funds offering to Korea Post's needs.
Firms with only comingled vehicles won't be considered. Firms “involved in the Madoff investment scandal” likewise will not be considered, according to the RFP.
In a telephone interview, Hong Yunjeong, a member of Korea Post's alternatives investment team, said details on the source of funding for the hedge fund-of-funds portfolios aren't being disclosed.
Proposals are due Sept. 14.
Final selections will likely be made by November, according to the RFP.
Details on the RFP can be found on Korea Post's website.