GPIF reveals first stage of alternative investment
The $1.24 trillion Tokyo–based Government Pension Investment Fund has released its plan to recruit alternative investments management firms, after previously announcing its search for new global real estate and infrastructure asset managers in order to implement alternative investments into private equity, infrastructure, and real estate, both in and out of Japan.
The plan is laid out in three phases and categorized as (1) gatekeeper/fund of funds, (2) co-investment with institutional investors, and (3) specific funds investment.
In regards to gatekeeper/fund of funds, GPIF “particularly looks for domestic investment managers in discretionary investment contract, which have a good track record of global management for building up the most appropriate portfolio scheme for this independent organization,” according to a statement.
In addition, GPIF will set up