The Presbyterian Church of Korea has issued a tender for a 100 billion won (US$72.13 million) multi-asset fund mandate.
The fund will have a five-year investment period and comprise global bonds, private equity and private debt, according to the church’s request for proposal on August 22.
The private equity investment will seek to outperform the Korea Composite Stock Price Index by 300 basis points, while the private bond investment will aim to outperform the KIS Composite Bond Index by 200 basis points.
The RFP does not say how many managers will be appointed.
Asset managers applying for the tender must have at least five years of investing experience and a minimum 1 trillion won of alternative funds, at least 30% of which must be committed capital.
Applications are open until September 1.
The Presbyterian Church of Korea, based in Hwanghae province, is one of the largest Christian denominations in South Korea, with 2.55 million members. The church doesn’t publicly disclose the value of its assets.
