Searches and Hires

Japan’s GPIF selects Russell as a transition manager for overseas bonds

Russell Investments Implementation Services was hired by Japan's Government Pension Investment Fund, Tokyo, as a transition manager for the fund's allocation to overseas bonds, according to an announcement on the GPIF website.

Russell will join BlackRock (BLK) Japan Co. in overseeing transitions for the ¥162.8 trillion ($1.53 trillion) pension fund's roughly ¥23 trillion allocation to overseas bonds as of Dec. 31.

In November, when GPIF issued its RFP for an overseas bonds transition manager, the fund announced it had hired Russell as a transition manager for its domestic equities portfolio, joining BlackRock and Nomura Asset Management.

At the same time, GPIF announced it had added BlackRock as a transition manager for the fund's overseas equities holdings, joining Russell Investments.