Japanese pension fund seeks to increase PE exposure

The successful consultants will have responsibility for formulating GPIF's medium- and long-term investment strategies in alternatives, according to the 6 March request for proposal (RFP). 

The ¥150tn ($1.5tn) fund can invest up to 5% of its assets in alternatives, which includes private equity. However, as of September 2018, alternatives only made up 0.18% of total assets.

The deadline to respond to the RFP is 28 March; the RFP can be found here.

Following GPIF's decision to enter the alternatives market a few years ago, it is expected that other government pension funds will establish alternative programmes.

Japan Post Bank also wants to increase its exposure to alternative investments to ¥8.5tn in the next three years, up from ¥1.5tn in June 2018. Japan Post Insurance is looking to commit ¥1.1tn to alternatives over the same period.

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