GPIF makes first call for alternatives managers

The world’s largest pension, Japan's $1.3 trillion Government Pension Investment Fund (GPIF), has launched its first-ever call for applications on Tuesday for private equity, real estate and infrastructure funds of funds.

For private equity, GPIF is looking for global funds of funds with “diversified investments in private equity funds”.

Meanwhile for infrastructure, the pension fund is seeking global managers who target diversified investments in core and brownfield infrastructure projects in developed countries.

For real estate, GPIF prefers both managers focused on global and Japan-core real estate funds.

Interested applicants are asked to submit their applications through GPIF’s asset manager registration system.

GPIF will hold an orientation on 17 April 2017 and a review process is expected to begin on 1 June 2017.

The pension giant’s latest move signals it is gearing up to make investments in Japan and other developed countries. In October last year, GPIF sought out investment consultants to advise on its underweight allocation to alternatives.

GPIF is targeting a 5 percent allocation to alternatives, however as at the end of March 2016, it had only invested about 0.06 percent in alternatives, with ¥1.9 billion ($17 million; €16 million) in private equity, and ¥81.4 billion in infrastructure through co-investments with external institutional investors, the fund said in a report. 

Join us in Tokyo this month and find out which strategies are most interesting to Japanese LPs. Private Equity International's Global Investor Forum: Tokyo will be held on 26 to 27 April, and the Infrastructure Investor Tokyo Summit will be held on 25 to 26 April.