Japan’s $1.4 trillion Government Pension Investment Fund, the world’s largest pension fund, has appointed a new fund-of-funds manager for its global infrastructure mandate.
GPIF has awarded the new mandate to StepStone Infrastructure & Real Assets and has appointed Sumitomo Mitsui Asset Management Co. as gatekeeper.
In a meeting with an Australian funds management delegation in December 2017, GPIF president Norihiro Takahashi said infrastructure is a key part of GPIF’s alternative asset strategy.
The new manager selection followed an RFP launched in April 2017 to implement an alternative investments “multi-manager” strategy for its infrastructure asset class through a fund-of-funds to pursue fund investments and co-investments.
The global infrastructure mandate will focus on core-strategy investments.
