Japan's ¥158.6 trillion ($1.42 trillion) Government Pension Investment Fund hired CBRE Global Investment Partners to manage a global core real estate fund-of-funds strategy.
A GPIF spokeswoman declined to provide details on the size of the mandate, noting that the pension fund announces specific manager amounts once a year with the July release of its annual report.
The CBRE mandate is GPIF's first for global real estate since the Tokyo-based fund issued an RFP in April 2017 for multimanager alternative strategies for real estate, private equity and infrastructure.
Since then, the fund has awarded one domestic real estate fund-of-funds allocation and three separate infrastructure fund-of-funds mandates.
The GPIF spokeswoman noted in an email the possibility that additional mandates for global real estate could be awarded in the future.
