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Japan’s GPIF picks 2 consultants to assist with building up alternatives allocation

Japan's ¥144.8 trillion ($1.3 trillion) Government Pension Investment Fund hired Russell Investments Japan Co. and Towers Watson Investment Services KK as investment consultants for the fund's planned 5% alternatives allocation to private equity, real estate and infrastructure.

GPIF issued an RFP in October for investment consultants to advise the Tokyo-based pension fund on private market allocations which, at current exchange rates, would amount to $65 billion.

A recent GPIF release with details of the fund's alternative plans for managers interested in submitting proposals noted that Russell and Towers Watson would be “involved in the evaluation process.”