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November 2021
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Korea Post opens tender for 110 billion won hedge fund mandate

Korea Post
By Hui Ching-hoo   
October 26, 2021

Korea Post is seeking bids from domestic asset managers for a 110 billion won (US$935 million) hedge fund mandate.

One firm will be appointed for a three-year term, the government postal agency says in a request for proposal on October 25.

The asset manager will be responsible for building a hedge fund portfolio for Korea Post’s savings unit, and provide advisory services, including performance measurement, portfolio management, and foreign exchange hedging.

Applications are open until November 8, with due diligence and manager selection scheduled by December 27.

This is Korea Post’s second hedge fund mandate in 13 months. In September 2020, it sought bids for a global hedge fund mandate of unspecified value for its insurance unit. Like many Korean asset owners, Korea Post does not typically disclose tender results.

Korea Post had around 134 trillion won of assets under management as of end-2020.