Searches and Hires

Japan’s GPIF seeks transition manager for overseas bonds, hires 2 for equity

Japan's Government Pension Investment Fund is searching for a transition manager for the ¥156.8 trillion ($1.4 trillion) fund's overseas bond allocations.

A GPIF spokeswoman said the successful applicant would join BlackRock (BLK) Japan Co. in handling transitions for the fund's overseas bond allocations, which stood at ¥22 trillion as of Sept. 30.

Proposals are due by 4 p.m., Tokyo time on Nov. 30.

Details regarding applications procedures and the information required can be found, in Japanese, on the GPIF website.

Inquiries can be emailed to admin-6i@gpif.go.jp.

Separately, GPIF announced it hired Russell Investments Japan Co. as a transition manager for the fund's domestic equities portfolio and BlackRock Japan Co. as a transition manager for its overseas equities holdings.

The appointments are effective immediately, said the spokeswoman.

Russell Investments becomes the GPIF's third transition manager for domestic equities, joining Nomura Asset Management and BlackRock Japan, which were appointed in April 2015.

BlackRock Japan becomes the GPIF's second transition manager for international equities, joining Russell Investments, which was likewise appointed in April 2015.

As of Sept. 30, the value of the fund's domestic equity holdings came to ¥38.2 trillion, while its international equity holdings stood at ¥37.7 trillion.