Japanese pension fund Chikyoren taps UBS, JP Morgan as PE managers

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Japan’s state pension fund Chikyoren or Pension Fund Association for Local Government Officials, has concluded its search for domestic and overseas private equity fund managers, tapping Asia asset management firms UBS and JP Morgan.

The $185 billion Japanese pension fund has chosen UBS and JP Morgan to manage its global real estate, and infrastructure investment, respectively.

The decision came a month after Chikyoren hired Nomura Asset Management to handle a domestic real estate mandate. Nomura along with Japanese bank Resona, took the same roles in the pension fund’s RFP for real estate in July last year.

Japanese investors are likely to invest in global real estate as a result of Chikyoren’s latest decisions, reports said.

Tagged as one of Japan’s “Big Four” public pension funds, Chikyoren has yet to disclose the percentage of assets it wants to allocate to property investment.

Placement agent Asterisk Realty recently reported that Chikyoren might set a 5 per cent cap on alternative investments, similar to the allocation target adopted by Japan’s largest pension fund, GPIF.

Based on Chikyoren’s latest asset allocation report last December 31, 2015, it allotted about 47.56 per cent of its holdings to domestic bonds, 22.93 per cent to Japanese stocks, 11.94 per cent to foreign bonds, 15.92 per cent to overseas equities, and 1.65 per cent to short-term assets.

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Japanese state pension fund Chikyoren scouting for PE managers

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

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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.