Korea Post Savings, Sejong, is searching for three global collateralized loan obligation managers.
A spokesman for Korea Post's investment team said the amount to be awarded to the managers hasn't been finalized, but each could start with a minimum amount of roughly $100 million in separately managed accounts. Korea Post Savings has about $90 billion in assets.
Interested managers should have at least $10 billion in total assets under management; a minimum of $5 billion in CLO AUM; and at least $300 million in CLO separately managed accounts.
The full RFP can be found on Korea Post's website. Proposals are due by 6 p.m. Korea Standard Time on Sept. 1. Hiring decisions are expected in October.