South Korea’s Government Employees Pension Service (GEPS) has opened a tender seeking a local asset manager for a foreign alternative fund comprising infrastructure and real estate investments.
The winning bidder will be responsible for hedging against foreign exchange risk, pre-investment planning, fund subscriptions and redemptions, calculation of net asset value, GEPS says in a request for proposal on February 26.
The value of the mandate was not disclosed.
Asset management firms bidding on the tender must have at least 8 billion won (US$US$5.46 million) of foreign infrastructure and real estate assets.
Applications are open until March 12 and the winner will be selected in mid-April.
GEPS is a semi-government agency that provides pension services for around 1.25 million members, with around 12.31 trillion won of assets.
