BlackRock names new Japan CIO

Takeshi Fukushima, who was previously chief investment officer of GI Capital, is replacing Shinichi Kawano.

BlackRock has appointed Takeshi Fukushima as chief investment officer and managing director of the firm’s Japan operations, the firm said in a statement.

Fukushima replaces Shinichi Kawano who has decided to leave the firm to pursue other interests. A spokesperson from BlackRock said Kawano is working closely with the team to ensure smooth transition of his responsibilities.

Fukushima will assume Kawano’s post immediately, responsible for investments in Japan across asset classes, as well as conveying BlackRock’s global investment themes to clients and investors, BlackRock said.

The firm is reportedly raising an Asia-focused fund of funds later this year, as reported by Private Equity International. It has invested in China life sciences private equity fund BioVeda China Fund and in Swedish private equity group EQT's infrastructure fund. It had also led a $300 million funding round in South Korean e-commerce company Coupang.

Fukushima brings more than 28 years of investment experience to the role. Before joining BlackRock, Fukushima served as CIO for Tokyo-based GI Capital Management. He was also a former CIO of Japanese asset management companies Meiji Yasuda Asset Management and Deutsche Trust Bank.

“We are very excited to have an investment professional of Tad’s calibre and experience joining us at BlackRock as we enhance our investment strategy platform in the region,” Belinda Boa, head of Active Investments for Asia Pacific said. “Under this rapidly changing market environment, it is important that we deliver the most sophisticated local investment insights to best serve the needs of our clients and investors, and reinforce our investment thought leadership in Japan.”

BlackRock has nearly $5 trillion of assets and manages $114 billion in alternative investments.

Earlier this month, the firm held a final close of its BlackRock Private Opportunities Fund (POF) III, its third direct co-investment fund. It closed on $630 million, above its initial target of $388 million, as reported by Private Equity International. POF will seek corporate carve-outs, special situations, privatisation of state owned enterprises and growth opportunities in Asia and other emerging markets.