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Japan’s public service pension fund hires first transition managers

Japan’s Federation of National Public Service Personnel Mutual Aid Associations hired BlackRock (BLK) Japan Co., Mitsubishi UFJ Trust and Banking Corp./Japan Master Trust Bank and Russell Investments as transition managers for the ¥7.6 trillion ($68.2 billion), Tokyo-based fund.

A spokesman for the fund, which is known as KKR in Japan, said this represents the first time the plan has hired transition managers.