Korea Post is calling bids for a 100 billion won (US$75.11 million) domestic growth and buyout blind fund mandate for its insurance unit.
The fund will have a five-year investment period and a ten-year maturity, the government postal agency says in a request for proposal on August 26. It will hire two to three asset managers for the mandate.
Asset management firms bidding on the tender must be experienced in managing a minimum of two blind funds with assets totalling at least 500 billion won.
Applications are open until September 6 and the winning bidders will be chosen by the end of November.
This is the seventh tender thus far this year for Korea Post, one of the most prolific Korean asset owners in outsourcing investments. The other tenders include private equity, venture capital, property loans and social responsibility loans.
Like most Korean asset owners, the postal agency rarely announces tender results publicly.
Sejong-based Korea Post has around 150 trillion won of assets under management.