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Japanese public pension, Chikyoren, has announced its first fund manager for overseas real estate and infrastructure. This is a long-awaited event for Japanese investors.

 

Tuesday, 12th July 2016

On 8 Jul., the second Japanese largest public pension fund, Chikyoren (Pension Fund Association for Local Government Officials, AUM: 185 billion USD), took a big step and announced its first fund manager for oversea real estate and infrastructure. UBS Asset Management is selected as Chikyoren’s first fund manager for oversea real estate, and JP Morgan Asset Management for overseas infrastructure.

For their first manager selection for overseas real estate & infrastructure manager, they chose the international asset managers that have already established business platforms in Japan. We assume that Chikyoren may select a few more fund managers for each alternative asset classes including private equity.

Even though a low profitability in a domestic market pressured Japanese institutional investors to invest in overseas markets, the negative public consensus for overseas real estate still remained due to a big loss from the 1990’s bubble crash. For this reason, the step by Chikyoren was a long-awaited event for many Japanese institutional investors in order to start global real estate investment.

Chikyoren’s first shot for overseas real estate can be a great trigger for other Japanese investors, especially for other pensions, regional banks, credit unions, who remain relatively conservative in overseas real estate. This also accelerate Japan’s major institutional investors to invest more to overseas real estate.

It seems that Chikyoren has finally started to ride the wave and triggers Japanese investors to invest in global real estate.

 

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Asterisk is a private fund placement agency for global alternative in Japan. Through our unique and extensive network of Japanese investors, we support global fund managers in accessing Japanese and Asian institutional investors (pensions, financial institutions, real estate developers, other business companies, etc.).

We provide access and strategies for overseas fund managers to bridge the gap between them and Japanese investors.

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