Two of the winning bidders will be responsible for managing a US equity strategy, which is benchmarked against the S&P 500 Index. The other two will manage a global equity strategy benchmarked against the MSCI All Country World Index, the government postal agency says in a request for proposals on October 7.
Each of the winning bidders will be appointed for two years and receive $50 million of funding.
Managers bidding on the mandate must have a minimum three-year investment track record. They must have no less than $1 billion of global equity assets.
Applications are open until October 21 and the winning bidders will be selected by December 13.
This is the ninth tender this year for Korean Post, one of the most prolific Korean asset owners in outsourcing investments. Its previous mandates include domestic and foreign private equity, property and social responsibility bonds.
Like most Korean asset owners, the postal agency rarely announces tender results publicly.
Sejong-based Korea Post has around 150 trillion won ($113.5 billion) of assets under management.