Japanese state pension fund Chikyoren scouting for PE managers

Visual from company website

Chikyoren, the $185-billion Pension Fund Association for Local Government Officials in Japan, has launched its search for domestic and overseas private equity fund managers.

Chikyoren has issued requests for proposals (RFPs) for private equity, exactly a year after releasing RFPs for real estate and infrastructure, reported the Private Equity International (PEI).

The pension fund announced on its website the entry requirements for asset managers, most likely with assets management under $993 million (¥100 billion).

PE applicants can submit an RFP through a local fund manager or trust bank whose total assets are more than ¥100 billion.

Japanese bank Resona, and Nomura Asset Management are two of Chikyoren’s domestic real estate fund managers. Both firms took the same roles in the pension fund’s RFP for real estate in July last year.

Placement agent Asterisk Realty said, in a statement, Japan’s “big four” public pensions – the Government Pension Investment Fund, the Federation of National Public Service Personnel Mutual Aid Association and Mutual Aid Corporation for the Private Schools of Japan – are likely to follow Chikyoren’s move.

The report indicated that Chikyoren has not set any target allocation to alternatives but will most likely keep to the allocation target adopted by Japan’s largest pension fund, GPIF, which sets a 5 per cent cap on alternative investments.

PEI noted a survey from JP Morgan Asset Management, which revealed that Japanese pension funds are continuously increasing their exposure to alternatives and considering lowering their allocation to domestic bonds.

Also Read:

Japan: ‘Big four’ pension fund Chikyoren chooses Nomura as domestic investment manager

South Korea pension body NPS appoints 4 PE firms to manage $607m in funds

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.