Searches and Hires

Korea Post Insurance seeks multiasset managers to oversee up to $800 million

Korea Post Insurance is seeking up to four managers of "traditional" non-hedge fund, global tactical asset allocation or multiasset strategies to oversee as much as $600 million to $800 million.

The RFP said the $45 billion Seoul-based insurance heavyweight is looking for up to two managers of absolute-return strategies and up to two managers of benchmark-relative strategies.

A spokesman for Korea Investment Management, adviser for Korea Post Insurance, said individual mandates could end up being $150 million to $200 million per manager. Managers must have GTAA businesses with minimum assets under management of $20 billion, track records of at least seven years and minimum firmwide assets of $200 billion.

Managers can find a PDF of the detailed RFP on the Korea Post website. The deadline is 6 p.m. Seoul time Aug. 17.