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GPIF seeks private equity, real estate, infrastructure fund-of-funds managers

Japan’s ¥144.8 trillion ($1.3 trillion) Government Pension Investment Fund on Tuesday issued its first call for private equity, infrastructure and real estate managers interested in competing for global and domestic alternatives allocations from the world’s largest pension fund.

GPIF is searching for managers of separately managed fund-of-funds strategies for global diversified private equity and global, mostly developed markets, core brownfield infrastructure, as well as global core mostly developed markets real estate —excluding Japan — and Japan core real estate.

For real estate, strategies investing in specific regions, such as North America or Europe, may also be considered.

A GPIF spokesman said there’s no set date for making final selections. Potential allocation sizes were not disclosed. The fund’s investment team will begin reviewing candidates on June 1.

Interested managers can register with the GPIF. Managers can find details on the registration process on the GPIF’s website.

The GPIF will hold an orientation meeting for the selection of alternatives managers at its offices on April 17. It said asset managers planning to attend should send an email to setsumei_alts_ff@gpif.go.jp by 10 a.m. local time on Friday.

As of Dec. 31, allocations to alternative investments still amounted to well under 10 basis points of the overall portfolio, a fraction of the 5% ceiling set in October 2014. As of Dec. 31, that ceiling would allow for allocations of more than $65 billion.