South Korea’s Teachers Pension has opened a tender seeking two financial institutions to provide investment advisory and administration services for its 3 trillion won (US$2.04 billion) foreign equity investments.
Services include portfolio evaluation, due diligence, risk management and assisting with establishing fund accounts and redemptions, according to the pension fund’s request for proposal on November 26.
The winning bidders will be appointed for three years.
Financial institutions bidding on the tender must have at least 150 billion won of overseas equity assets under administration, and a minimum registered capital of 15 billion won.
Applications are open until December 5 and will be evaluated by local investment consulting firm KG Zeroin. The winning bidders will be announced on January 23.
Teachers’ Pension manages retirement savings of 400,000 current and retired teachers and staff of private schools, with 28.75 trillion won of assets as of end-2024.
