Key Takeaways
- • Japan's Government Pension Investment Fund (GPIF) has hired US property investment firm LaSalle Investment Management Inc for a global real estate mandate, part of its five-year-old multi-manager alternatives strategy.
- • The mandate is structured as a fund of funds using a core co-investment strategy, with Mizuho Trust & Banking Co serving as gatekeeper for advisory and administration services.
- • GPIF did not disclose the mandate's value in a brief statement dated October 3.
- • GPIF, the world's largest pension fund with 196.59 trillion yen (US$1.36 trillion) in assets under management as of March 2022, has hired nine managers under the strategy since its April 2017 launch.
- • LaSalle Investment, based in Chicago, reported $82 billion of total assets as of June 2022.
Summary
Japan's Government Pension Investment Fund (GPIF) has appointed LaSalle Investment Management Inc, the US property investment firm, to run a global real estate mandate, according to Asia Asset Management. The mandate is part of GPIF's multi-manager strategy for alternative investments, which the pension fund introduced in April 2017 as part of a plan to diversify its asset allocation.
The mandate is structured as a fund of funds and adopts a core co-investment strategy. Mizuho Trust & Banking Co will act as gatekeeper, providing advisory and administration services. In a brief statement dated October 3, GPIF gave no further details, including the value of the mandate.
Since launching the multi-manager strategy, GPIF has hired nine domestic and international asset managers for global real estate, infrastructure, and private equity mandates. These include Japan's Alternative Investment Capital and NB Alternatives Advisers of the US. The LaSalle appointment continues that program's expansion into real estate.
GPIF is the world's largest pension fund, with 196.59 trillion yen (US$1.36 trillion) in assets under management as of March 2022. LaSalle Investment, headquartered in Chicago, reported $82 billion in total assets as of June 2022. Asia Asset Management also reported separately that GPIF hired CBRE for a new global real estate mandate.
The mandate is structured as a fund of funds and adopts a core co-investment strategy. Mizuho Trust & Banking Co will act as gatekeeper, providing advisory and administration services. In a brief statement dated October 3, GPIF gave no further details, including the value of the mandate.
Since launching the multi-manager strategy, GPIF has hired nine domestic and international asset managers for global real estate, infrastructure, and private equity mandates. These include Japan's Alternative Investment Capital and NB Alternatives Advisers of the US. The LaSalle appointment continues that program's expansion into real estate.
GPIF is the world's largest pension fund, with 196.59 trillion yen (US$1.36 trillion) in assets under management as of March 2022. LaSalle Investment, headquartered in Chicago, reported $82 billion in total assets as of June 2022. Asia Asset Management also reported separately that GPIF hired CBRE for a new global real estate mandate.
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