SEARCHES AND HIRES

Japan’s Chikyoren taps Mitsubishi UFJ Trust for first domestic private equity allocation

Japan's Pension Fund Association for Local Government Officials, or Chikyoren, hired Mitsubishi UFJ Trust and Banking Corp. to manage the ¥21.5 trillion ($189.7 billion) fund's first allocation to domestic private equity, a Chikyoren spokesman said Friday.

He declined to provide details about the size of the allocation.

The Tokyo-based pension fund made its first alternatives allocations in early 2016 to domestic real estate, and later that year added managers to invest in international real estate and infrastructure as well.