Japan’s Chikyoren hires Barings, Mitsui Real Estate for alternatives mandate

Japanese yen. Photo from Pixabay.com

Japan’s $230 billion Pension Fund Association for Local Government Officials, or Chikyoren, has hired Barings and Mitsui Real Estate Investment Advisors Co to manage allocations to overseas private debt and domestic real estate respectively, according to an announcement. 

Barings Japan will serve as an advisor while its Irish affiliate, Barings International Fund Managers (Ireland) Ltd, will serve as a subadvisor for the private debt allocation. 

Similarly, Daiwa Fund Consulting will serve as an advisor for the domestic real estate allocation, while Mitsui Real Estate will serve as the subadvisor. 

Chikyoren, which is the country’s second-largest pension fund, did not disclose the amount of the allocations. It announces manager-specific allocations once a year when it releases its full fiscal year results, which is scheduled on July 2. 

In April, Chikyoren announced that it hired Nomura Asset Management to manage a private debt mandate and Tokio Marine to oversee a domestic infrastructure mandate.

Earlier this year, the pension fund announced that it had hired five managers – Clarion Partners to manage an allocation to overseas real estate, Asset Management One, Nissay Asset Management and Nomura Asset Management to actively manage allocations to domestic equities, as well as Sumitomo Mitsui Trust Bank to manage two passive ESG allocations.

Last month, Bloomberg reported that Chikyoren expects to post the best returns since 2001 on the back of the global equity market’s rally. The pension fund projects returns to exceed 20% in the year ended March. In 2019, it saw a -5% return. 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.